EU leaders continue to hesitate to set up an economic recovery fund. Talks will continue on Monday – Abroad – News

Berend Leith, a representative of the President of the European Council Charles Michel, said on Twitter that the summit, which has already dragged on until Monday morning, will resume on Monday at 3 pm Latvian time.

Despite the emotions that have bubbled in the Chamber, it has so far failed to reach an agreement on a EUR 750 billion fund to take the European economy out of the recession caused by the pandemic.

Over dinner on Sunday evening, European Council President Charles Michel made a new compromise on the proportional distribution of loans and grants, trying to persuade the so-called austerity quartet – the Netherlands, Sweden, Austria and Denmark, to which Finland also joined.

He recommended reducing the share of grants from the € 500 billion initially planned to € 400 billion, with loans of € 350 billion instead of € 250 billion.

In an emotional address over dinner, Michel reminded the leaders of the member states of the 200,000 Europeans killed by the pandemic and called on them to work together to carry out the “mission impossible”.

“The question is whether the 27 leaders are accountable to the people of Europe, or whether they are able to build unity and mutual trust in Europe,” Michel said in a protocol available to AFP. “Or we will show the face of a weak Europe destabilized by mistrust.”

However, one of the advisers to the Swedish Prime Minister, Stefan Leuven, has stated that Stockholm is ready to provide a maximum of 350 billion in grants, and only if additional conditions are taken into account, including the rule of law required of Member States to receive EU funds.

French President Emmanuel McCron, who, along with German Chancellor Angela Merkel and Michel, has taken the lead in trying to find compromises, has been unable to control his emotions and hit the table with his fist, showing his outrage at the “frugal” stiffness.

He accused Austrian Chancellor Sebastian Kurz of disrespecting his colleagues when he left the room to talk on the phone, and equated Dutch Prime Minister Mark Riti with the owner of the Elysee Palace to former British Prime Minister David Cameron, whose hard line was closed at EU summits.

Sources say “savers” have demanded significant discounts on their contributions to the EU budget in exchange for concessions over dinner, causing even more tension.

Rite also calls for a veto in order to control the allocation of funds to countries such as Italy and Spain and force them to implement the necessary reforms.

Hungarian Prime Minister Viktor Orban, meanwhile, has accused Riti of taking personal revenge on Budapest, warning he will veto any attempt to link EU funding to political demands.


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