BRUSSELS (Pakistan Point News / Sputnik - 20th July, 2020) The third day of EU talks on an economic recovery plan aimed at alleviating the effects of the coronavirus pandemic is over, participants are taking a break but the Brussels summit is expected to continue into the night, Barend Leyts, Spokesman of the European Council President, said.
"@eucopresident [Charles Michel] calls a 45 minute break #EUCO," Leyts wrote on Twitter right before midnight on Sunday.
On Friday, EU leaders started their first in-person summit since the onset of the COVID-19 pandemic, aiming to agree on a 1.07 trillion euro ($1.2 trillion) budget for the coming seven years, as well as a 750 billion euro ($854 billion) recovery fund, which would include 500 billion Euros in grants and 250 billion euros in loans for EU nations.
Luxembourg Prime Minister Xavier Bettel said on Sunday that the summit was continuing into an unplanned third day because of several unresolved issues, including the tying of EU's recovery aid to rule of law criteria, as well as the management and volume of the anti-crisis relief package.
The so-called Frugal Four group - the Netherlands, Denmark, Sweden and Austria - oppose debt mutualization and believe that money should be issued in the form of loans rather than grants.
Italian Prime Minister Giuseppe Conte said on Saturday that the talks were "more difficult than expected" and that EU leaders had found themselves at an impasse, unable to resolve many issues.
Speaking to reporters after the Saturday talks ended, Conte said that EU leaders had to wrap up the negotiations on Sunday as it was not beneficial for anyone to prolong the summit. Conte explained that the talks were difficult because the budget plan and the recovery fund were interlinked and a lot of compromise was needed.
