{"id":150688,"date":"2020-07-18T22:20:34","date_gmt":"2020-07-18T22:20:34","guid":{"rendered":"https:\/\/www.bnreport.com\/michel-floats-e50b-shift-in-compromise-proposal-on-eu-coronavirus-fund\/"},"modified":"2020-07-18T22:20:34","modified_gmt":"2020-07-18T22:20:34","slug":"michel-floats-e50b-shift-in-compromise-proposal-on-eu-coronavirus-fund","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/michel-floats-e50b-shift-in-compromise-proposal-on-eu-coronavirus-fund\/","title":{"rendered":"Michel floats \u20ac50B shift in compromise proposal on EU coronavirus fund"},"content":{"rendered":"

European Council President Charles Michel put forward a new compromise proposal on Saturday morning that would shift \u20ac50 billion in funding from grants to loans under the proposed EU recovery fund.<\/p>\n

According to a document seen by POLITICO, the overall size of the fund would remain at \u20ac750 billion, but the level of grant funding would be reduced to \u20ac450 billion (from \u20ac500 billion proposed) \u2014 a nod to demands from the so-called frugal four of Austria, Denmark, the Netherlands and Sweden.<\/p>\n

Michel also proposed a compromise on governance of the fund in an effort to bring the Netherlands on board with an agreement. That would be known as a \u201csuper emergency brake,\u201d according to the document.<\/p>\n

If a country objects to the disbursement of recovery funding, it can \u201crequest within 3 days \u2026 to bring the matter without delay, to the European Council or the Ecofin to satisfactorily address the matter.\u201d<\/p>\n

The Netherlands has demanded unanimity<\/a> when deciding on disbursements, a position that is opposed by countries including Italy and Spain and that the Commission and Council say is not legally feasible.<\/p>\n

Its far from clear that the adjustments will be enough to broker a deal, but it could revitalize discussions after Read More \u2013 Source<\/a>
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politico<\/a><\/h5>\n

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European Council President Charles Michel p..<\/p>\n","protected":false},"author":1,"featured_media":150689,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[48],"tags":[],"class_list":["post-150688","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-health"],"yoast_head":"\nMichel floats \u20ac50B shift in compromise proposal on EU coronavirus fund - Business News Report<\/title>\n<meta name=\"description\" content=\"European Council President Charles Michel p..\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/michel-floats-e50b-shift-in-compromise-proposal-on-eu-coronavirus-fund\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Michel floats \u20ac50B shift in compromise proposal on EU coronavirus fund - 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