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Published 10:27 IST, July 19th 2020

'Tough discussions' and extra day for EU Summit

European Union leaders on Saturday extended their summit by an extra day, convinced they were finally closing in on a deal for an unprecedented 1.85 trillion euro (2.1 trillion US dollar) EU budget and coronavirus recovery fund, an EU official said.

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'Tough discussions' and extra day for EU Summit
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European Union leaders on Saturday extended their summit by an extra day, convinced they were finally closing in on a deal for an unprecedented 1.85 trillion euro (2.1 trillion US dollar) EU budget and coronavirus recovery fund, an EU official said. Heading into a balmy summer night, a deal was still far off, but several key nations said negotiations were at least heading in the right direction despite tensions that were running high after months of battling the pandemic.

Dutch Prime Minister Mark Rutte said there had been "tough discussions" but stressed the leaders needed to "push through tomorrow to get somewhere." Two full days and one night of discussions by the bloc's 27 leaders oscillated between raw irritation over how the huge sums should be spent and what strings should be attached to a glimmer of hope that somehow a deal could materialize - if not this weekend, then at least within a few weeks.

The summit was supposed to end Saturday but more negotiations lay ahead for leaders as they dealt with their toughest crisis in years, one that has burdened the bloc with its worst recession ever. The pandemic has sent the EU into a tailspin, with 27-nation bloc’s economy estimated to contract 8.3% this year, according to the latest predictions. Around 135,000 of its citizens have died from COVID-19.

10:27 IST, July 19th 2020