because this excess of this european council is his success as well i'd like to sink in. in america for her exceptional guidance. we spent 4 long days nights of negotiation more than 90 hours but it was worth it since this agreement is a signal that europe is able to act. now in germany after all. people often accused europe as being too little too late whereas here we're demonstration that the opposite is the case at the end of april the european council gave us as the mandate of designing a recovery package and today today only 2 months later next generation europe is. up and running and it has the agreement of the european council and in the history of the european union that is an absolute record for a new budgetary instrument. and next generation europe is very extensive more than 1.8 trillion euros and that's more than 5 percent of the g.d.p. of the e.u. 27. and europe still has the courage and the imagination to think the u.k. . and it was so doing we. are fully aware that this is a historic moment in europe. we are currently in one of the most difficult economic a

from michelle the president of the european council and slavonic elaine the president of the european commission they've been reiterating the unity and solidarity of the e.u. both describing it as the next generation european union especially the emphasis on green investments as they focus on the attempted economic recovery well let's now speak to our correspondents to fast and she joins me now on the phone from amsterdam stepped off to move the 90 hours of negotiation as a bunch of language saying that we finally have a deal a historic deal can you talk us through what's been agreed here. yes you heard the word mission impossible as several times of course during this press conference and it is indeed a big victory for the european council president shall because the future of the e.u. as a unity was basically hanging in his hand and it is of course a very important sign that all the 27 countries have signed this deal because if it would have not if it would have failed it would have been dramatic of course for the european union and at the end it's a compromise that was a long battl

the president of the european council has offered a compromise to break a deadlock over a coronavirus economic recovery fund charles michel's revised the amount which would people paid out in grants to countries needing help to bounce back from the pandemic european leaders negotiating for a 2nd day after 14 hours of talks on friday failed to find a breakthrough in the divided over what is overall an $858000000000.00 recovery fund the main question is whether and how much should be distributed as grants or as loans so you've got the a use for biggest economies france germany italy spain want most of the money to go out as grants but the leaders of the netherlands austria denmark and sweden have urged a more frugal approach they're saying smaller grants bigger loans meanwhile hungry in poland object to the proposal being tied to democratic rights from london that in barba now in the developments out of brussels. one of the main players is the dutch prime minister mark return he said late on friday that the talks have got increasingly grumpy but he did say that he wasn't completely pess

holds today to mark the beginning of germany's 6 month presidency of the european council with the european union in crisis. masks hand gestures and rather awkward head nodding have taken the place of handshakes german chancellor angela merkel's 1st trip abroad since the corona virus outbreak was marked by new pandemic etiquette as you have confronts an unprecedented threat are already over 100000 european lives have been lost to the virus and alongside growing debt and unemployment the continent to seeing a marked rise in populism. when this in for the pandemic can't be fought with lies and dissent from ation beneath even nor with hatred and agitation in fact denying populism is being shown its limits i've used up the top priority of the german presidency is to ensure that europe emerges from the crisis united by just short term stabilisation of europe will not be enough we also want to europe that offers hope in a while but us hope. america supports the e.u. commission's proposed joint recovery fund of 750000000000 euros to provide financial help especially to the southern european countr

germany's taking on the european council presidency at a time we will show great respect and invest great passion into this challenge i believe in europe i am a fervent advocate to europe not just as a legacy from the past but as a harbinger of hope for the future europe is not something to pass down to us some sort of fate that too is incumbent upon us europe is a living project that we can shape and change. europe does not restrict our room for maneuver in a globalized world europe gives us more room for maneuver it is only with europe that we can maintain our freedoms. and so more than ever before we need to focus on fundamental rights we need to mutual assistance and support solidarity a community spirit of europe will only be safeguarded if we offer innovative responses to the challenges of climate change digitalize asian and our responsibility in the world those are the huge challenges facing us but i am confident look back at the various tests and trials that europe has already overcome the failed to treaty the constitutional treaty 15 years ago the economic and financial crisis an

hanging on machall and germany of course germany is currently holding the presidency of the european council and making sure that there is a substantial financial recovery package for the eurozone in the light of the pandemic is very much of the 1st mammoth task for germany during its presidency so a lot of responsibility and a lot of pressure on germany going into those talks certainly is a lot of pressure the italian prime minister saying that right now the very survival of the eurozone is a stake is that view shared here in germany. certainly and that's something we've heard reiterated a few times just in the last couple of weeks since germany took on the presidency of the european council from angela merkel stay in no time come the wastage and if that is the case then only the weakest countries in the eurozone set to be set to a set to come off the worst and say we really have seen germany already making a shift in its policy the fact that is ready to make that concession and enable the e.u. to the eurozone to take on more borrowing to take on more debt in order to pull the e.u. through.

leaders are meeting for a 2nd day to break a deadlock on a contentious economic recovery plan european council president show me show offered a revised proposal for the package aimed at helping countries worst affected by the coronavirus and deming german chancellor angela merkel is chairing the summit tensions are running high between leaders whose home countries have been hit hard by the virus friday's negotiations ended earlier than expected when agreement looked unlikely the talks are hung up over the packages mix of loans and grants and who controls how countries spent the money. i'm joined now by our correspondent barbara valle who's in brussels monitoring the situation barbara there's a new proposal from the european council president it's on the table will this be any more acceptable to the more frugal members there. at this it's getting there because we've heard positive noises from several members the austrian chancellor for instance just said that it's going in the right directions the talks were intense which is a diplomatic speak for there is quite a battle raging ongoing and that

meeting in brussels for a 2nd day to break a deadlock on a contentious coronavirus recovery plan european council president charles michel offered a revised proposal for the package aimed at helping countries worst affected by the pandemic tensions are running high between leaders and many expect the talks to continue until well into the night friday's negotiations and earlier than expected when an agreement looked unlikely the talks are hung up over the packages mix of loans and grants and who controls how countries spend the money. our correspondent bob i have is was monitoring the developments and brussels for us baba a new proposal from european council presidential michelle is now on the table making important concessions to the so-called frugal for any chance this will be more acceptable to the reluctant member states it's more except through to the through for of course and so we heard the austrian chancellor sebastian chord saying hope things are going quite well in his direction he meant of course but we heard also in the meantime the italian prime minister just at a con to said the talk

translation: there is a proposal from the president of the european council now which i believe representsmart way what we want but this doesn't mean that everyone accepted it so we don't have a deal yet. it was elbow bumps in the first face—to—face eu summit since spring lockdowns across the continent. pleasantries that masked a deep divide among eu countries over whether the package should be given as grants or loans. france and germany want grants to mostly finance the fund but four wealthy northern member states, the netherlands, sweden, denmark and austria, insist on loans. still, there is some optimism. translation: in summary, one can say it is going quite well. things are going in the right direction. of course, as you'd expect, it is a tough struggle, a tough negotiation but there is movement in the right direction and that is the most important thing. with the pandemic dealing europe its worst economic shock since world war ii, leaders here are hoping they will be able to iron out their differences when they meet this morning. james ransley, bbc news. 0ur europe correspondent, ga

ronnie also says another $35000000.00 are at risk of contracting the virus the president of the european council has offered a compromise to break a deadlock over the coronavirus economic recovery fund charles michel's revised the amount paid out in grants to countries needing help to bounce back from lockdowns european leaders are negotiating for a 2nd day after 14 hours of talks on friday failed to find a breakthrough. the u.n. secretary general's delivered a stinging critique on inequality in the world during a speech marking nelson mandela international day and tonio terrorists as the world is at breaking point and the coronavirus pandemic is only exposed the deep divisions existing in our societies and us president donald trump's ordered flags over public buildings including the white house to be flown at half staff to honor the congressman and civil rights icon john lewis who died at the age of 18 he was a pioneer of the civil rights movement and was part of the inner circle of dr martin luther king back in the 1960 s. . you're up to date with the headlines we've got to news off you in 25

up and running and it has the agreement of the european council and in the history of the european union that is an absolute record for a new budgetary instrument. and next generation europe is very extensive more than 1.8 trillion euros and that's more than 5 percent of the g.d.p. of the e.u. 27. europe still has the courage and the imagination to think big. and in so doing we. are fully aware that this is a historic moment in europe. we are currently in one of the most difficult economic and health crises but nonetheless europe is managing. having worked really hard to tackle this crisis in a really effective way and this will benefit the u. budget and it will link solidarity with responsibility solidarity here because all 27 countries together her. barin support next generation e.u. and responsibility because next generation the e.u. doesn't just point the way out of the crisis but also it serves the very foundation of a modern and sustainable europe. of 2 more points we have now the new only resources tightly linked to the repayment this is a big step forward with a clear timetable m

i'm a banker it is welcome to the program european council president schama shell has presented a new proposal for a contentious a year recovery fund a year later is holding a 2nd day of talks to try to bridge their differences over the fund aimed at helping economies recover from the impact of coronavirus german chancellor angela merkel has been chairing the talks since yesterday as germany currently holds the 80 years rotating presidency be you is divided on how to assist those hardest hit by the pandemic a major sticking point continues to be a want to grey member states should share the debt. and before we talk to our correspondent in brussels let's take a look at what's at stake. mosque's on gloves off european leaders a back in brussels for the 1st time since the beginning of the corona crisis with approx finances at the top of the agenda cancel presidential in the shadow expects negotiations to be exceptionally tough a lot is at stake situ nutrisystem could if you see that i know it will be very difficult because it's not only about money it's a question of the future of europe

the president of the european council has offered a compromise to break a deadlock over a coronavirus economic recovery fund shell michel revised the amount paid out in grants to countries in need of stimulus funds european leaders are holding a 2nd day of negotiations in brussels friday's talks ended without an agreement these are divided over an overall proposed $858000000000.00 coronavirus recovery fund the main question is whether and how much should be distributed is grants or is loans the e used for biggest economies france germany italy and spain one most of the money to be paid as grants the leaders of the netherlands austria denmark and sweden have urged a more frugal approach pressing for more money in loans meanwhile hungry in poland objects to the proposal being tied to democratic rights or rick brooks is a political analyst and a professor at stanford university in berlin he explains why the negotiations have been so difficult. i think what we observe is a state that we got used to since the founding of the european union and given the fact that it's not a state or a fede

only 2 months later next generation europe is up and running and it has the agreement of the european council and in the history of the european union that is an absolute record for a new budgetary instrument bason has been watching all of this for us from amsterdam step after more than 90 hours of negotiation as bonds land was saying that we now finally have a deal there are a number of fests in this package can you talk us through what's been a great. exactly it was a dramatic summit and it was the longest in the last 20 years and finally they came up with this quite complicated compromise before the summit started there was a huge part of grants 500000000000 euros of grants well that was something that the specially the northern smaller countries didn't agree to didn't want to agree to sort of compromise is now that it's nearly half of the money is going to be grants and half will be loans and also to these grants that are going to be strict conditions that's also something that the frugal for the so-called frugal for the countries in the north the nat'l and sweden denmark and austria real

merkel was in brussels today to mark the beginning of germany's presidency of the european council. she was in brussels with the european union in crisis mode. >> masks, hand gestures, and awkward head nodding have taken the place of handshakes. german chancellor, angela merkel's first of abroad was marked by new pandemic etiquette, as europe confronts an unprecedented threats. over 100,000 european lives have been lost to the virus. alongside growing debt and unemployment, the continent is seeing a rise in populism. >> the pandemic cannot be fought with lies and disinformation. nor with hatred and agitation. fact denying populism is being shown its limits. the top priority of the german presidency is to ensure that europe emerges from the crisis united. but just short term civilization of europe will not be enough. we want a europe that offers hope. >> merkel supports the eu's recovery fund of 750 billion euros to provide financial help, especially to the southern european countries that have been hardest hit. the commission president, the longest-serving member of merkrk's cabinet,

leaders meeting on the sidelines of the european council have called on all libyan parties and their foreign supporters to immediately end their fighting the council had been discussing the coronavirus economic recovery fund but after 2 days of negotiations they do not appear close to an agreement a compromise has been offered by the president of the european council to try to break the deadlock. iran's president hassan rouhani says 25000000 people more than a quarter of the population have been infected with the coronavirus in a televised speech on saturday he said another 35000000 are at risk of infection iran has officially reported about 271000 cases but to his office says is much higher figures are based on research estimates by the health ministry. u.s. leaders are paying tribute to one of the country's most respected civil rights activists congressman john lewis who was died at the age of 80 louis helped organize the 963 march on washington d.c. when martin luther king jr delivered his i have a dream speech. israelis are out in the streets of tel aviv protesting against their

european parliament and we wrote a lot of letters to inform the european commission and the european council about the illegal group pushbacks the greek or her eighty's and in those 2 totally unacceptable and other european you parliament to leave decided that we have to reform the dublin regulation and always need you can cancel you now want to talk about the new component of the european parliament. i will come back to the arrangements in the course of let's let's talk about the european border agency frontex which works closely with the great coast guard in the mediterranean for why doesn't it stop a step in and stop any illegal action. yes we have a real critic of you on the activities of frontex. frontex have the duty. during their jobs to comply with the fundamental arrives and we are very concerned that they did not act in that way and for example. when we have a look at the route will illegal pushbacks we are wondering that frontex. doesn't mention any of these incidents and that. yesterday we had the opportunity to speak with the director of frontex and he wasn't able to clarify wha

the research very strong political will on the table of the european council to to act to act in other to deliver because. we are trained of inst that climate change that innovation that the supports for the tournaments for example cheat to develop a very strong program in this decision the m.f.f. and the recovery feel and we have the tools we have the means in other to tackle those important challenges for for the future it's also important to to observe that despite it is huge if you compare if you compared to decipher of europe of the open g.d.p. also important to for jets to do we can always try to g. will also be developed at the national level its means that european union you use we send a very strong signal we are so that we are robust and we are united and mother never we need to be united and we need to be strong in order to face this of you should crises. so to your question reforming. concerning the part how i envisaged will make sure that the investment goes in the right direction the program is the recovery and resilience facility is a step in a way that is very clear 1st

challenge the coronavirus pandemic this is the 2nd time germany has taken over the presidency of the european council with chancellor merkel at the helm speaking out the european parliament in brussels the chancellor laid out her vision for germany's 6 month term which will be dominated by economic recovery from the pandemic and she welcomed the commission's plan for a recovery fund for struggling european economies. but the chancellor said member states would need to compromise in order to sign off on the recovery fund before next month's summerbee says diffidence get mine something if we are willing to. overcome our differences and identify sched solutions if we are willing to view the world through the prism of others europe will emerge from the crisis stronger than ever if we strengthen time he should and solidarity no one will get through this crisis alone we are all vulnerable. others in 5 when. well let's go through this with the w.'s the chief political correspondent i'm willing to cry in chief international editor richard walker in brussels are welcome both let's start with you melinda chanc

germany's chairing the session on july 1st took over the rotating 6 month presidency of the european council well with germany chairing the talks likes of bring in these political correspondent kate brady kate a china is figuring very prominently at today's talks with critics saying brussels has failed to take a tough line on beijing's draconian security law for hong kong where does germany stand on this. well germany has openly criticized this new security law and there have been a number of leading figures and politicians in recent weeks who have spoken more openly about this issue as well and even just yesterday the german president. in my ear said that there would be a lasting negative effects on relations between china and western democracies if this new national security law remained in place in hong kong now there had been a lot of hopes riding on the e.u. china conference or so much i say which was supposed to take place here in germany in the eastern city of lights in september that has been postponed coronavirus at least that's the official line that we heard from from officials he

over a coronavirus economic recovery fund a compromise has been offered by the president of the european council to try to break that that lock shows michelle has revised that the amount paid out in grants the countries needing help to bounce back from lockdowns. one of the baba has been following all the details and joins us now obviously you know we've seen europe divided in camps before and this is perhaps highlighting it remind us what the sticking points are there are lots of different countries want different things or raise different objectives the netherlands and the like there are so-called frugal for the netherlands austria denmark and sweden who want more of this recovery fund in terms of loans and not free grants not handouts now this concessional saturday by shell michaud proposes reducing the amount of grants from the total pot from $560000000000.00 to $500000000000.00 still huge amounts no word on actually reducing the total size of the fund it's not clear whether that's going to be enough for the likes of the dutch they also want to return has asked for effective veto powers for

called on the european union to unite to emerge stronger from its greatest ever challenge the coronavirus pandemic it's the 2nd time germany has taken over the presidency of the york council with on sabbatical help speaking of the european parliament in brussels the chance for them laid out her vision of germany 6 months which will be dominated by economic recovery from the coronavirus pandemic. welcome the commission's plan for a recovery fund for a struggling for struggling european economies. but the chance of a 7 member states would need to compromise in order to sign off on the recovery fund before next month's summer recess diffidence than it might in some and if we are willing to overcome our differences and identify sched solutions if we are willing to view the world through the prism of others europe will emerge from the crisis stronger than ever if we strengthen cohesion and solidarity no one will get through this crisis alone we are all vulnerable. islands and 5 went. straight to brussels that we joined did of these that chief international editor richard walker welcome richard european leaders have been calling for greater unity amongst member states since for

another big problem is the implementation, because as you know, we are waiting for next week, the european councilbig failure in the agreement at the european level with the blocking any agreement is another big risk. so i think that now it is very important for the european union and european leaders not to make any mistakes. to have the agreement at the next european council, to implement what they are thisncing, and implementation needs to be very fast. last time 10 years ago, the big problem was timing. the crisis started in 2008 with lehman brothers, but the first 2012, 4s arrived in years later. can you imagine now to have the same crisis starting in march and responses in 2024? it is not possible. ,e need responses very fast both at national and european level, but first of all at the european level. plan, butecovery vonda lay-in, the commission plan did, i think it is a good did, i think lyon it is good. buffett: coming up, mr. goes buying. berkshire hathaway get its biggest acquisition in four years. more on that later this hour. up next, we will talk about how the coronavirus reshapes tr

only 2 months later next generation europe is up and running and it has the agreement of the european councilnd in the history of the european union that is an absolute record for a new budgetary instrument you know as president donald trump has met congressional leaders from his republican party to discuss a coronavirus economic relief bill that says cases there continue to soar florida california and texas are seeing a big increase in infections china has accused britain of violating international law by suspending its extradition treaty with hong kong and the u.k. foreign secretary don't like rob described the measure as a reasonable and proportionate response to the city's new national security law. more protests by opponents of mali's president are expected later on tuesday that insisting abraham paid to steps down the opposition's rejected a proposal from original body ecowas calling for a unity government. but testers have returned to the streets of guinea's capital after 3 months of relative calm because of coronavirus restrictions they're angry about a potential reelection bid by 82

the oppositions are very different the president of the european council michel has got a an as invited everyone on the 17th of july to discuss this issue and there be many top's that would be necessary and i for example will also be involved in these now working closely together with others i would like to achieve a union as quickly as possible so that the economic recovery can take place as quickly as possible and sustainable is why what's important is that the economic recovery benefits everyone and that it's not just about companies and employees but that we also retain and strengthen social cohesion and you have it and that means that the opportunities for young people in europe must be preserved and this is why in our presidency we will be pushing him for a youth guarantee the possibility for every young person to get a job the income that they were not in the 6 months ahead. we won't be only dealing with combating the crisis but we last to be working intensely on terror we can address climate protection digital stuff when a t. and europe's role in the world in the future. 2 weeks

2 months later the next generation europe is up and running and it has the agreement of the european council and in the history of the european union that is an absolute record for a new budgetary instrument our step fasten has more now on that land mondale. it was a dramatic summit and it was the longest in the last 20 years and finally they came up with this quite complicated compromise before the summit started there was a huge part of grants 500000000000 euros of grants well that was something that especially the northern smaller countries didn't agree to didn't want to agree to sort of compromise is now that it's nearly half of the money is going to be grants and half will be loans and also through these grants there are going to be strict conditions that's also something that the frugal for the so called frugal for the countries in the north the netherlands sweden denmark and austria really insisted on they didn't want to give what they said free money so there are conditions on economic reforms but even also some political reforms and there's also this called so-called emergency brake

germany and france will together give support to european council president who has worked very diligentlye all need to work hard >> european commissioner said today's talks should be an opportunity to modernize the block's economy for the future >> the whole world is watching us whether europe is able to stand up united and overcome this corona crisis strongly with the budget and next generation eu, we have the chance to overcome and modernize our single market and union to bring forward the green deal and digitalization and there for today is of utmost importance. >> let's leave the developments there for now and give you an update in the u.s. the u.s. has reached a new milestone in the number of new cases. more than 77,000 cases were recorded in one day according to the latest tally nearly 1,000 lives lost in just 24 hours as florida, california and texas all reported their biggest one-day jumps as colorado became the latest state to issue a state-wide mask order amid the surge in new infections >> pretty notable development in the last 24 hours. russian hackers have attempted to steel

we have different views over the final agreement, but this time around i think the european council has as to bargain and find a deal that buts not only frugal [indiscernible] guy: we have seen a polish election. does the reelection of president duda make it slightly more difficult to make this happen? floutedargue poland has some of the rules that are at the core of the eu and the prospect of further erosion of media freedom there as well? mario: disagreement is variant -- this agreement is very important for poland. poland is a big part of the agreement and everyone understands. we are having elections at all times in europe. this is one of the characteristics of our democratic nature. we have mature democracies. i do not think one should be put in front of the other. the fact that we had a democratic election in poland last weekend's of our own nature. we need to work with all governments. governmenthe polish and the newly elected -- and the reelected polish president understand how important it is for poland an agreement on these subjects. alix: going into the meeting there'll be a

talks on a massive and then make we're covering package out in their 4th day in brussels with european council president showing michelle saying he's confident a deal will be struck agreement over the $2.00 trillion dollars budget has been beset by deep ideological differences focused on the roughly $850000000000.00 coronavirus recovery fund is highlighting divisions over how much would be repayable and i suppose was for 445000000000 dollars in essentially free grants that's more than countries including the netherlands want and less than the amount table by france and germany and joins us live now from paris so where do things stand now natasha. well what we have is this proposal by the e.u. council headshell michel and it comes after several days and nights of intense discussions between the e.u. use $27.00 leaders now when they went into these talks at the beginning of the summit on friday what was on the table was this roughly 860000000000 dollar recovery fund to help europe's economies recover from the current virus pandemic the discussions over the past few days of really focused on how

germany has taken over as the rotating presidency of the european council for the next 6 months berlin will organize and preside over all european union meetings chancellor of the medical said her focus during the presidency would be on the coronavirus pandemic and europe's economic recovery. a flag raising ceremony in hong kong has marked the 23rd anniversary of the former british colonies return to chinese rule it was held just hours after a new national security legislation took effect the new law will punish crimes of secession subversion terrorism and collusion with foreign forces with up to life in prison. for the 1st time in history a reigning king in belgium has expressed regret for his country's brutal colonial rule and what is today the democratic republic of congo as that country marks 60 years of independence belgium's king believe knowledge of the racist legacy of belgium in the letter to the president of the d r c he expressed quote deepest regret for the harm done to millions of congo people by belgian colonizers. confined to the pages of history books but the memory of

piotr buras, head avenue the warsaw portion of the european council relations.up, opec-plus readies its next move to avoid an oil taper transfer. we will bring you those details next. this is bloomberg. ♪ yousef: this is "bloomberg surveillance." i'm yousef gamal el-din in dubai. here are some of the highlights as we count down to those events. today, later on, we are going to be seeing the governor of the bank of england, andrew bailey, speaking on a webinar entitled libor: entering the endgame. he will be joined by fed president john williams as well. the panel will be monitored rated by francie look -- will be moderated by francine lacqua. forhave the u.k.'s office budget responsibility. they are going to publish three economic scenarios on the impact of the pandemic, and that comes as monthly gdp and industrial as well as manufacturing data comes out as well for the full perspective. on wednesday the bank of japan weighs in, and they publish their monetary policy decision. on thursday, bear with me, we get the ecb rate decision as well, and he gives you a se

european taxpayer triggered this has some discussions, but there is now confirmation at the european councilas now been translated in a legal text and will be subject to negotiations between the european parliament and the european council, and they are confident that by the end of the day we will have a result which is acceptable for everybody, and in particular protects european taxpayer interest and guarantees the respect of rule of law. law,ine: on the rule of does europe have the tools to hold the countries that break it into account, or is this very nice on paper and nothing will be done? how can you hold countries into account that breach the rule of law? have a line in our seven, which can be activated in case there is a breach of values. now we are talking about something else. ,f it is about european money here article two will be activated in case there are deficiencies. somethingthis is which will not be -- will not this is reality because a potential tool to guarantee is -- this is my experience after more than 10 years as an instrument to guarantee the rule of law. alix: one th

germany's taking on the european council presidency at an important time we will show great respect and invest great passion into this challenge i believe in europe i am a fervent advocate to europe not just as a legacy from the past but as a harbinger of hope for the future europe is not some things passed down to us some sort of fate that is incumbent upon us europe is a living project that we can shape and change. europe does not restrict our room for maneuver in a globalized world europe gives us.

leaders are meeting for a 2nd day to break a deadlock on a contentious economic recovery plan european council president show me show offered a revised proposal for the fund which would help countries worst affected by the coronavirus pandemic a german chancellor angela merkel is chairing the summit as germany currently holds the e.u. use rotating president and supports a generous financial response member states however are divided on how much of the 750000000000 euros earmarked for the recovery package should be given out as grants and how much as loans to be paid back. we're joined now by our correspondent marina strauss she's in brussels marina a new proposal put forward this morning what we know about it. michelle's plan is really to break the deadlock been experiencing yesterday on the 1st day of the summit so as it looks like at the moment the overall sound of the recovery package won't change but the proposal is to reduce the amount of grants to convince the so-called through gold countries led by the netherlands mark root and michelle also wants to give them some other goodies to win

was aiming for and i think we have achieved emerged during an emergency break at the level of european council to be able to enforce the reforms in member states if they are not taking place against the broker of that particular member state has agreed with european commission. states like poland invicta all bans hungary they insisted though they haven't been boxed in and you know i. was. rejected despite underlying problems that haven't gone away maclin macor say the e.u. works. after a very long session we have reached a good conclusion and i am very happy about that therefore. europe has shown that it is prepared to take new paths in what is a very special situation i believe that is necessary extraordinary events and in this case that's the pandemic that has reached us all demand extraordinary new methods what. the whole thing may have been close. says the deal they reached will help all 27 e.u. nations just recovered i'm convinced that this plan this budget will respond to the health economic and social challenges we are all facing in our countries. it was a long fight 4 days of negotiati

she's talked about it in her address to the bundestag there will be a chicago hot seat for the european council discussed an e.u. wide recovery plan for the 1st time 2 weeks ago we agreed that this extraordinary situation requires extraordinary solutions to ensure that europe can emerge strongly from this extraordinary crisis there are still major differences in the positions of the member states and i'm there you see you know i'd like to achieve union as quickly as possible so the economic recovery can take place as quickly and sustainably as possible. is bizarre not to be what's particularly important to me is that the economic recovery benefits everyone and that it's not just about securing jobs wages and companies but that we also strengthen social cohesion in europe that include securing the opportunities for young people in europe and that is why in our presidency we will be pushing for an e.u. youth guarantee so that every young person has the opportunity to find a job. or we spoke with brussels correspondent bob or of a zal and also about the expectations they have for germany's e.u. pr