COVID-19: EU leaders show first signs of compromise on stimulus plan

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COVID-19: EU leaders show first signs of compromise on stimulus plan
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BRUSSELS, July 20 (Reuters) - Signs emerged that leaders of northern European Union countries were willing to compromise on a 1.8 trillion euro ($2 trillion) coronavirus stimulus plan on Monday as talks in Brussels extended to a fourth day.

Divided and slow to respond at the start of the coronavirus outbreak in Europe, EU leaders believe they now have a chance to redeem themselves with an aid plan that would show Europeans the bloc can react to a crisis.

“An agreement is a necessity”, French Finance Minister Bruno Le Maire told French BFM TV on Monday as weary diplomats slept or prepared for another day in what could be the longest-ever EU summit. Michel had earlier urged the 27 leaders to achieve “mission impossible”, reminding them that more than 600,000 people had now died from COVID-19 around the world. The EU must stand together, he said.Within the 750 billion euro recovery fund, 390 billion euros could be considered as non-repayable grants, diplomats said, a compromise between the 350 billion level of the five “frugals” and the 400 billion euros demanded by France and Germany.

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