EU summit: Merkel warns of no deal on coronavirus recovery fund

Covid-19EU summit: Merkel warns of no deal on coronavirus recovery fund

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EU summit: Merkel warns of no deal on coronavirus recovery fund

Brussels: European Union leaders may not reach a deal on a coronavirus stimulus plan on Sunday, German Chancellor Angela Merkel warned as marathon negotiations ran into a third day and acrimony mounted over the demands of rich but thrifty countries.

“There is a lot of goodwill, but also many positions. I will make every effort but, it is possible that there is no result,” Merkel said in Brussels as she arrived for a third day of talks on Sunday.

Germany and France, the EU’s powerbrokers, are seeking a deal on a 1.8 trillion-euro ($2.06 trillion) economic recovery package to rescue the bloc’s economies, which are facing their worst recession since World War II.

After two exhausting days of negotiations, a “frugal” group of richer, northern states led by the Netherlands appeared no longer willing to back down from demands for cuts to the package, underscoring the depth of the EU’s north-south split.

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