AFAQ NEWS
EU leaders meet on Friday for the first face-to-face summit since the coronavirus crisis, with low expectations of a deal on a €750bn post-Covid stimulus package.
The main issue is how much of the recovery fund will be handed out in grants and how much in loans.
They also need to agree on a seven-year budget worth another €1.07 trillion.
French President Emmanuel Macron said it was a “moment of truth” for Europe and the next hours would be decisive.
German Chancellor Angela Merkel warned ahead of the summit that “the positions are still far apart” and European Council President Charles Michel acknowledged that the talks would be “very difficult”.
The Brussels meeting is due to continue on Saturday but EU leaders may need longer to reach a deal. A French official said an agreement this weekend was possible but certainly needed to be wrapped up by the end of the summer.
Arriving for the talks, Estonian Prime Minister Juri Ratas said “we need a fast, strong and united response to the pandemic to kick-start the European economy”.
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