No deal in sight; EU leaders haggle over budget, virus fund
4 years, 5 months ago

No deal in sight; EU leaders haggle over budget, virus fund

Live Mint  

European Union leaders hunted for compromises Saturday on the second day of a summit to reach a deal on an unprecedented 1.85 trillion euro EU budget and coronavirus recovery fund, with tensions running high among leaders weary after months of battling the pandemic. Austrian Chancellor Sebastian Kurz said Saturday afternoon that there was “movement in the right direction,” the Austria Press Agency reported, but he wants to see a higher budget rebate for Austria and a smaller proportion of grants in the 750 billion-euro recovery fund. Kurz and Dutch Prime Minister Mark Rutte are among the leaders of four “frugal” nations, also including Sweden and Denmark, that want conditions such as economic reforms attached to EU handouts to help countries recover from the hammer blow of the coronavirus and checks on how the money is being spent. Rutte met Saturday for crisis talks in a reduced setting with German Chancellor Angela Merkel, French President Emmanuel Macron, Italy's Giuseppe Conte as well as the leader of the EU's executive, Ursula von der Leyen, and Michel.

Leaders Michel Kurz  eu  deal  michel  grants  chancellor  diplomat  leaders  proposals  nations  sight  haggle  fund  budget  proportion  virus

History of this topic

EU unveils 210 billion euro plan to ditch Russian fossil fuels, as the war in Ukraine puts pressure on energy supplies
2 years, 7 months ago

EU unveils 210 billion euro plan to ditch Russian fossil fuels, as the war in Ukraine puts pressure on energy supplies

ABC  

The European Commission has unveiled a 210 billion-euro plan for Europe to end its reliance on Russian fossil fuels by 2027, and to use the pivot away from Moscow to quicken its transition to green energy. Key points: The EU says it will invest 210 billion euros into extra energy investments by 2027 It is part of a three-pronged plan …

EU nations approve a dozen pandemic recovery plans
3 years, 5 months ago

EU nations approve a dozen pandemic recovery plans

The Hindu  

approved the pandemic recovery plans of the bloc's four biggest economies and eight other member countries Tuesday, a move seen as a bellwether for an economic revival from the unprecedented recession caused by the coronavirus pandemic. In the case of France, which is to get some 40 billion euros USD 47.3 billion from the pandemic recovery fund, that would amount …

EU nations approve a dozen pandemic recovery plans
3 years, 5 months ago

EU nations approve a dozen pandemic recovery plans

Associated Press  

BRUSSELS — European Union nations approved the pandemic recovery plans of the bloc’s four biggest economies and eight other member countries Tuesday, a move seen as a bellwether for an economic revival from the unprecedented recession caused by the coronavirus pandemic. In the case of France, which is to get some 40 billion euros $47.3 billion from the pandemic recovery …

European Union leaders reach deal on 750 billion euro recovery fund
4 years, 5 months ago

European Union leaders reach deal on 750 billion euro recovery fund

Live Mint  

European Union leaders reached a deal on a massive stimulus plan for their coronavirus-blighted economies at a pre-dawn meeting on Tuesday after a fractious summit that went through the night and into its fifth day. Officials said the deal, which came after Michel presented compromises on a 750 billion euro recovery fund, is critical to dispel doubts about the bloc's …

EU leaders agree on $860bn joint-debt economic relief package
4 years, 5 months ago

EU leaders agree on $860bn joint-debt economic relief package

Al Jazeera  

Deal follows days of rancour over the proportion of grants compared to loans repayable by the fund’s beneficiaries. The deal will see the EU issue 750 billion euros of joint debt to help member states mitigate the economic downturn. Italian Prime Minister Giuseppe Conte said his country expects to receive 28 percent of the 750 billion euro emergency fund, comprising …

Coronavirus EU bailout came ‘close to failure’ but new compromise being drawn up
4 years, 5 months ago

Coronavirus EU bailout came ‘close to failure’ but new compromise being drawn up

Dutch News  

The EU summit on a coronavirus bailout package ended early on Monday morning without success so far, reports NOS. ‘The conversations last night made progress on a few things,’ prime minister Mark Rutte said in a briefing on Monday morning. ‘It looks a bit more hopeful than when I thought last night: it’s over.’ The heads of all 27 EU …

Coronavirus EU bailout came ‘close to failure’ but new compromise being drawn up
4 years, 5 months ago

Coronavirus EU bailout came ‘close to failure’ but new compromise being drawn up

Dutch News  

The EU summit on a coronavirus bailout package ended early on Monday morning without success so far, reports NOS. ‘The conversations last night made progress on a few things,’ prime minister Mark Rutte said in a briefing on Monday morning. ‘It looks a bit more hopeful than when I thought last night: it’s over.’ The heads of all 27 EU …

Still no deal on EU coronavirus recovery fund; Debate continues today
4 years, 5 months ago

Still no deal on EU coronavirus recovery fund; Debate continues today

NL Times  

After a weekend of tense discussions on an economic recovery fund to help European Union countries hit hard by the coronavirus pandemic, the 27 EU leaders still have not come to an agreement. Dutch Prime Minister Mark Rutte said that European Council president Charles Michel is working on a new compromise "and progress is being made", but added that the …

EU extends summit after deadlock over coronavirus recovery plan
4 years, 5 months ago

EU extends summit after deadlock over coronavirus recovery plan

Al Jazeera  

European Union leaders failed to agree on a massive stimulus fund to revive their coronavirus-hammered economies on Saturday after two days of fraught negotiations, but extended their summit for another day to try and overcome their differences. As the 27 leaders scurried back to their hotels after a late, inconclusive dinner, German Chancellor Angela Merkel and French President Emmanuel Macron …

EU leaders far from deal on budget and virus recovery fund
4 years, 5 months ago

EU leaders far from deal on budget and virus recovery fund

Associated Press  

BRUSSELS — European Union leaders headed into Saturday, the scheduled final day of their summit, about as far apart from reaching a deal on an unprecedented 1.85 trillion euro EU budget and coronavirus recovery fund as the seating distance imposed upon them for health reasons. After two full sessions, summit host and European Council President Charles Michel worked with individual …

Frugal four call for responsible pandemic spending ahead of EU leaders talks
4 years, 6 months ago

Frugal four call for responsible pandemic spending ahead of EU leaders talks

Dutch News  

The Netherlands and its partners in the ‘frugal four’ group of European countries have again reiterated their support for loans to aid economic recovery and warned that all spending must be responsible, this time in a letter in the Financial Times. Dutch prime minister Mark Rutte and the leaders of Sweden, Denmark and Austria set out their vision ahead of …

Frugal four call for responsible pandemic spending ahead of EU leaders talks
4 years, 6 months ago

Frugal four call for responsible pandemic spending ahead of EU leaders talks

Dutch News  

The Netherlands and its partners in the ‘frugal four’ group of European countries have again reiterated their support for loans to aid economic recovery and warned that all spending must be responsible, this time in a letter in the Financial Times. Dutch prime minister Mark Rutte and the leaders of Sweden, Denmark and Austria set out their vision ahead of …

EU plans to raise $825 billion for coronavirus relief
4 years, 7 months ago

EU plans to raise $825 billion for coronavirus relief

CNN  

London CNN Business — The European Commission has proposed giving hundreds of billions of euros to EU countries that have seen their economies devastated by the coronavirus pandemic, an unprecedented relief effort designed to ensure parts of the bloc aren’t left behind when the recovery comes. “We all understand the crisis is so huge we have to take unusual steps …

The EU is still divided over coronavirus relief. That could tear it apart
4 years, 7 months ago

The EU is still divided over coronavirus relief. That could tear it apart

CNN  

London CNN Business — A fight over how to fund the European Union’s recovery from the coronavirus pandemic is stoking tensions between wealthier and poorer countries, threatening to delay the region’s economic rebound and unleash political and financial forces that could pull the bloc apart. If we have another asymmetric recovery, then it will be very bad for the EU.” …

France and Germany back €500bn fund to help save EU
4 years, 7 months ago

France and Germany back €500bn fund to help save EU

The Telegraph  

France and Germany have proposed a €500bn recovery fund for struggling European Union economies as they battle to quell bitter infighting over the bloc's halting response to the Covid-19 catastrophe. Under new plans presented by French president Emmanuel Macron and German chancellor Angela Merkel, the 27 EU members would borrow jointly on financial markets to offer grants rather than loans …

EU agrees budget, recovery plan needed to beat virus impact
4 years, 8 months ago

EU agrees budget, recovery plan needed to beat virus impact

Associated Press  

BRUSSELS — European Union leaders agreed Thursday to revamp the EU’s long-term budget and set up a massive recovery fund to tackle the impact of the coronavirus and help rebuild the 27-nation bloc’s ravaged economies, but deep differences remain over the best way to achieve those goals. “There is only one instrument that can deliver this magnitude of task behind …

EU ministers fail to agree virus economic rescue in lengthy talks
4 years, 9 months ago

EU ministers fail to agree virus economic rescue in lengthy talks

Al Jazeera  

Sixteen-hour all-night talks fail to produce results, with a reported clash between Italy and the Netherlands. European Union finance ministers failed to agree in all-night talks on more support for their coronavirus-hit economies, and their chairman said on Wednesday morning he was suspending the discussions until Thursday. The Dutch say ‘no’.” An official who participated in the talks said at …

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