EU leaders near compromise on stimulus plan
After three days of haggling EU leaders said they were making progress on Monday (July 20).
An update on the meeting, over how to revive economies damaged by the pandemic, was provided by French President Emmanuel Macron as they took a pause in proceedings.
"Not over yet, but difficult yes" he told reporters.
According to one diplomat, Macron lost his patience in the small hours of Monday
Frustrated by blockages from the Netherlands, Sweden, Denmark and Austria, the French leader reportedly banged his fist on the table.
Dutch Prime Minister Mark Rutte warned the discussions could still fall apart.
But EU summit chairman Charles Michel urged the 27 leaders to achieve "mission impossible" and reach an agreement.
They're at odds over how to carve up a vast recovery fund designed to help haul Europe out of its deepest recession since World War Two.
And there are differing views over what strings to attach for countries that the fund would benefit.
On the table is a package for the EU's next long-term budget and recovery fund valued at 1.8-trillion-euros, or $2.06-trillion.
The 750 billion euros proposed for the recovery fund would be raised on capital markets by the EU's executive European Commission.
It would be a historic step towards greater integration.
The money would be funnelled mostly to hard-hit Mediterranean states
A group of more wealthy north European states have pushed for a smaller recovery fund, underscoring the divisions within the bloc.
