7/19/2020, 9:09 AM (Source: TeleTrader)
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Possible no deal on EU recovery fund at summit - Merkel

German Chancellor Angela Merkel revealed the European Union summit could end without the final agreement on €750 billion coronavirus recovery fund. "There is a lot of good will, but also many positions. I will make every effort, but it is possible that there is no result," Merkel said.

Austria's Chancellor Sebastian Kurz rejected the initial fund proposal, saying the decision should have a "one-off effect." Soon after, European Council President Charles Michel adjusted the plan so it better suits the Frugal four.

Special European Council meeting is being held from July 17 to 19 in Brussels, where EU leaders are attempting to reach a deal on coronavirus relief plan and a new long-term EU budget for 2021-2027.

Breaking the News / ND