7/2, 7:38 AM (Source: TeleTrader)
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Michel to unveil EU budget negotiation scheme - report

European Council President Charles Michel will present next week a negotiation scheme for the European Union's long-term "budget negotiating box" to help member states reach a deal on it, Politico reported on Thursday.

This move comes after German Chancellor Angela Merkel said the bloc is still "far apart" from agreeing on the funds and the economic recovery stimulus package. Germany took over the presidency of the Council of the European Union on July 1.

The European Commission previously announced its €166.7 billion budget draft for 2021.

Breaking the News / JR