EU Closes In on Stimulus Deal With Major Obstacle Overcome
- Leaders will return to talks at 4 p.m. aiming to seal deal
- Negotiations went through the night into Monday to bridge gap
This article is for subscribers only.
The European Union moved closer to a deal on a massive economic stimulus package after four holdouts indicated they were ready to compromise on a key provision, officials said.
After negotiating through the night, the Netherlands, Austria, Denmark and Sweden are satisfied with 390 billion euros ($450 billion) of the fund being made available as grants with the rest coming as low-interest loans, the officials said, asking not be named discussing private conversations. The total size of the recovery package is in flux, but an earlier proposal was for 750 billion euros.