Finance

Michel presents compromise plan for EU budget and recovery fund

European Council President Charles Michel on Friday presented a compromise proposal aimed at reaching agreement among EU leaders on a coronavirus recovery fund and the blocs long-term budget.

Michel stuck to the European Commissions proposal of a €750 billion recovery fund, consisting of €500 billion in grants and €250 billion in loans, to address the impact of the coronavirus crisis.

The Council chief also suggested a core seven-year budget of €1.074 trillion, a volume lower than both tRead More – Source