Merkel Says EU Members ‘Far Apart’ on Recovery, Budget Talks
Merkel Says EU Members ‘Far Apart’ on Recovery, Budget Talks
(Bloomberg) -- Chancellor Angela Merkel said European Union member states remain “far apart” in talks on a coronavirus recovery fund and the bloc’s next budget.
“I must tell you that the positions of the member states are still far apart,” Merkel said Wednesday in Berlin as lawmakers queried her on the first day of Germany’s six-month presidency over the EU.
The warning came amid efforts to bridge differences ahead of a July 17 summit meeting at which the 27-member bloc will seek to advance plans for a 750-billion-euro ($840 billion) rescue package.
Merkel plays a key role in passing the radical EU-wide stimulus package, which would see the bloc issue joint debt to raise funds for countries most affected by the pandemic. The recovery plan will dominate the first month of her presidency and will be made all the more complicated by the financial hole left by Britain’s departure.
In brief opening remarks, Merkel said the EU should be prepared should talks with the U.K. over its exit from the bloc fail.
“We have to and we should make preparations in case the Brexit accord doesn’t come to fruition,” she said, noting that progress on an agreement has been limited.
©2020 Bloomberg L.P.