Wide gaps EU leaders must bridge to unlock economic stimulus
Saturday, 07 18 2020, Category: Economy, Country: Europe
European Union leaders will try to bridge major differences at a summit in Brussels on Friday and Saturday over a proposal to inject hundreds of billions of euros into their economies to help them rebuild from the COVID-19 pandemic.
German Chancellor Angela Merkel warned that a deal was far from certain on the plan to attach a new 750-billion-euro ($850 billion) recovery fund to the bloc’s next budget for 2021-27 projected at slightly above 1 trillion euros.
Dutch Prime Minister Mark Rutte was holding out in a tug-of-war between the wealthy and thrifty northern states on one side and their southern peers, debt-ridden and hit harder by COVID-19, on the other.
Hungary threatened a veto and Poland also opposed a push to condition handouts more on respect for the rule of law.
Here are the main gaps the 27 EU heads must bridge to unlock the money and heal divisions.