July 8, 2020 / 2:53 PM / a month ago

Still much work needed for EU recovery fund deal, Michel says

European Council President Charles Michel attends a debate about EU financing and economic recovery with EU lawmakers at the European Parliament in Brussels, Belgium July 8, 2020. REUTERS/Yves Herman/Pool

BRUSSELS (Reuters) - European Council President Charles Michel said on Wednesday that the EU needs to reach an agreement quickly on its plan for a multi-billion-euro recovery fund but much negotiation will still be needed to get there.

“I can assure you I am doing all I can to secure an agreement,” he told the European Parliament ahead of a July 17-18 summit of leaders on the recovery fund and the bloc’s next long-term budget that he will chair.

“We need to find a workable solution quickly. My impression, after a round of consultations over the last few days, is that we haven’t yet finished our negotiations and we still have a lot of work to do. I think that we can conclude that some member states want to cooperate more than others.”

Reporting by Marine Strauss; Writing by John Chalmers

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