EconomicTop News

EU’s Michel lays out recovery plan for summit negotiation

1 Mins read
imageEconomy10 hours ago (Jul 10, 2020 05:40AM ET)

(C) Reuters. European Council President Charles Michel attend a debate in Brussels

BRUSSELS (Reuters) – European Council President Charles Michel on Friday laid out plans for a long-term EU budget of 1.074 trillion euros and a recovery fund of 750 billion euros for pandemic-hammered economies, the starting point for negotiations at a summit next week.

In a bid to make the bloc’s mass economic stimulus more palatable to thrifty northern member states, Michel proposed maintaining the so-called rebate that these countries receive from their contributions to the budget.

(… by John Chalmers)

EU’s Michel lays out recovery plan for summit negotiation

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.