Tense talks to reach a deal on a massive stimulus plan have revealed deep political fractures in the European Union, questioning its ability to stay unified
The agreement paves the way for the European Commission, the EU’s executive, to raise billions of euros on capital markets on behalf of all 27 states, an unprecedented act of solidarity in almost seven decades of European integration.
“This agreement sends a concrete signal that Europe is a force for action,” a jubilant Michel told reporters.See more stories While strong in symbolism, the deal came at the cost of cuts to proposed investment in climate-friendly funds and did not set conditions for disbursements to countries, such as Hungary and Poland, seen as breaching democratic values.
“There were a few clashes, but that’s all part of the game,” said Dutch Prime Minister Mark Rutte, describing a warm relationship with his Italian counterpart, Giuseppe Conte.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
European markets head for negative open as EU leaders fail to agree over recovery fundEuropean stocks are expected to open lower Monday after European Union (EU) leaders meeting at the weekend failed to come to an agreement over a multibillion-euro recovery fund.
Read more »
European markets head for higher open after EU leaders reach recovery fund dealEuropean stocks are expected to open higher Tuesday after European Union leaders reached a deal on a 750 billion euro ($857 billion) recovery fund.
Read more »
Analysts View: EU impasse caps gains for the euro, but leaves hopes intactEuropean leaders stood at an impasse and markets on edge on Monday after three days of haggling over a coronavirus rescue plan had yet to produce an agreement.
Read more »
EU leaders struggle with 'mission impossible' at deadlocked recovery summitEU leaders stood at an impasse on Monday after three days of haggling over a plan to revive economies throttled by the COVID-19 pandemic, but the chairman of their near-record-length summit urged them to make one last push on 'mission impossible'.
Read more »
Euro hovers near four-month peak as market looks to EU summitThe euro hovered near four-month highs against the dollar on Monday as investors held on to hopes that European leaders would break a deadlock and hammer out an economic rescue deal as their marathon summit reached a record length.
Read more »
Euro hovers near four-month peak as market looks to EU summitThe euro hovered near four-month highs against the dollar on Monday as investors held on to hopes that European leaders would break a deadlock and hammer out an economic rescue deal as their marathon summit reached a record length.
Read more »