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Merkel and Macron Walk Out on Rutte in EU Stimulus Dispute

  • Leaders divided over how to structure 750 billion-euro package
  • Italy’s Conte accuses fiscal hawks of blackmailing Europe
Bloomberg business news
EU Recovery Plan Has Less Than 50% Chance of Passing: Rutte
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European Union leaders failed to unlock an agreement on a 750 billion-euro ($860 billion) response to the coronavirus pandemic after a second day of sparring in Brussels and will come back to try again on Sunday.

Leaders continued with informal talks after negotiations broke up at 11 p.m. on Saturday as they tried to find common ground on the composition of the fund and the conditions attached to it. A crucial late-night meeting including Dutch Prime Minister Mark Rutte, Germany’s Angela Merkel and Emmanuel Macron of France ended abruptly in a dispute over how much of the package should be disbursed as grants and how much as loans.