Deadlocked EU Leaders Inch Closer to an Agreement for Coronavirus Recovery Fund

Read also: Down to the Wire as EU Leaders Discuss Coronavirus Recovery Fund

According to witnesses, at one point Macron thumped the table, berated Kurz for leaving to take a call and accused Rutte of behaving like former British premier David Cameron.

Cameron took a hard line at EU summits but ended up leading his country into a referendum to quit the bloc.

In a bid to break the deadlock, Michel came up with a new proposal on Monday morning, which a diplomat said could be a "route to a deal". "A plan with 390 billion in grants but smaller rebates for the Frugals," a European official explained.

Read also: EU to Trump Administration: Stop US Trade Sanctions Threats

In a promising sign for Michel's new plan, Kurz tweeted his approval. "Tough negotiations have just come to an end, we can be very satisfied with today's result," he wrote.

But, speaking to journalists, he also reflected on Macron's aggressive stance.

"It's understandable that some people, when they don't get enough sleep, end up losing their cool, and we respect that. All's well that ends well," he said.

Emergency brake 

Rutte wants member states to have a veto on national economic plans by the likes of Italy and Spain, in order to oblige them to pursue reforms to borrowing and their labor and pensions markets — an effort that was angrily resisted by Italy.

Michel has proposed a "super emergency brake" system to allow members to examine grant handouts.

Meanwhile, another obstacle is looming. Hungary's hardline premier Viktor Orban accused Rutte of waging a personal vendetta against him and his country — and vowed to prevent any agreement on efforts to tie EU spending to recipient countries' respect for EU standards. (Writer: Dave Clark) 

Source: http://u.afp.com/37ku