emergence of the frugal 4 who became really a frugal 5 as it went on now the frugal 4 were the netherlands austria sweden and denmark they were ultimately joined it seems by finland as a group that said they were keen on taking out get themselves in order to put money into a pot which as they saw it was free cash for nations to spend as they wanted to mark the netherlands. about in courts of austria. of denmark and matthew fredrickson of. pardon me but the fragrance one of denmark and my staff and often of denmark really but boxing above their weight pushing above their weight when it comes to the influence they were able to have on these talks they will see this as a big success just how they were able to see well to basically. move the goal posts as they were set out originally back in may what had been initially set out was that there would be 500000000000 made available in grants 250 made available as loans they weren't happy with that and they got it changed the other thing from the netherlands side in particular that shown that if you stand your ground you may get something in return the neverland

should be given out it's me and spain for instance want every city and province but the netherlands austria sweden and denmark want loans which will have to be repaid on top of that the dutch prime minister wants any help conditional on a country set here and in rules something both hungary and poland claim is actually meant to target that. tonight we have a long talk about the rule of law and those discussions and we really need to push through to morrow if we want to get somewhere if there is a bridge it's because of them not because i don't like blame game but the dutchman is the real responsible man for 4 months we are going through a phase of stalemate it looks like it's very complicated more complicated than we'd expected we've clashed quite strongly with the likes of holland for example as well as with the so-called frugal countries which do not agree on the need for such a major response form austrian foreign minister current can i as well believe they souring of relations in recent years between all the blocks members is what actually led to this stalemate the fact that we have a tremendo

the spain and some other countries are calling for it to come mainly is grants while the netherlands austria sweden and denmark insist on the loans which will have to be repaid on top of that so the dutch prime minister wants the aid to be made conditional on the country's adherence to the rule of law something which hungry in poland say is meant to target them. tonight we had a long talk about the rule of war those were discussions and we really need to push through to morrow want to get somewhere if there is a bridge because of them not because i don't like blame game but the dutchman is the real responsible man for foremost we are going to throw the phrase a stalemate it looks like it's very complicated more complicated we would expect that we don't clash quite strongly with the likes of holland for example as well as with the so-called frugal trees which do not agree on the need for such a major response. ok let's get there now karen can i saw a former austrian foreign minister she's with this new very welcome again i do remember we spoke a few weeks ago about this very story hey we are still m

countries known as the frugal for that are some the biggest net contributors those are the netherlands austria sweden and denmark are very wary about distributing money in the form of grants that don't need to be repaid the prefer the money to be shared through loans they also want checks and balances in place to make sure that money is used wisely and for the right purposes on the other side of the equation you've got countries such as spain that have benefited significantly from financial support from the european union that we're hoping for grants no strings attached to allow their economies to be rebuilt after being significantly affected by the pandemic it's really is an interesting case and that is one of the biggest contributors to the coffers and is now asking like spain for significant grants basically saying look we've paid an awful lot of money into the reserves over the years it's time following this emergency to get the money back but neither side of the equation can work out exactly what the right figures are just yet because of course we're used to having seen divisions within especial

of the fruit the so-called self declared frugal 5 countries and these countries the netherlands austria denmark sweden and finland are us of the countries merkel is talking to you and maybe also to hungary in poland because one major sticking point today will be the rule of law if the money that will be handed out in the budget will be attached to a sort of rule mechanism and hungary and poland strongly oppose this idea so they could also make or break the deal today why exactly is this conditional of any financial assistance such a sticking point in the girls you know. there's it would be the 1st time in the history that is handing out taking up mutual debt and that's a really big thing and that 2 very different persuasions here was so we have the south and countries italy and spain they have been really hard hit by the covert 19 crisis and they already they already are are already confronted with economical difficulties they have been confronted before and they say we need your solidarity we want to be and the money to be had it was s. grants and then there are all of the northern countries there ar

frugal for now they're called the frugal 5 finland joined them it's finland denmark the netherlands austria and sweden that make up these countries are wealthier northern european countries their parliaments may not agree to all of this their representatives in the leaders from those countries who essentially have been fighting with the rest of the e.u. over the last almost 5 days over this or are they going to have to sell this back home to those constituencies and say that this is a good deal i'm not sure that they'll all agree with that remember these are not only going to be difficult to sell to the existing parliaments but also to populist parts of the populations that may not agree with these ideas so one of the issues here has been that these frugal 5 nations basically said they wanted to have essentially loans that were made that would have to be repaid not grants that were non repaid by a lot of these nations the grants idea has come through and so i think that's where you're going you may see a hang up in some of these other again wealthier. northern european nations and now dean quotes this

the netherlands, austria, denmark, and sweden have been holding up negotiations.y appear to be ready do a billion would be available as grants. $860ackage could be work billion. brexit negotiators are in a tense standoff. u.k.ngs between the eu and have failed to make progress in the last months. the latest rounds of talks begins in london where negotiators say the concessions are not enough. the eu says attempts to compromise are not being reciprocated. one democratic representative told abc there should be a lockdown of florida. meanwhile the mayor of los angeles says he is on the brink of new restrictions because of the increase in virus cases. suggest -- are far from over. president trump is questioning joe biden's competence. told fox news he would be on the ground crying for mommy. show the democratic candidate continues to lead the race. -- the price $9 billion in cash and stocks. a significantbay minority stake in the combined company. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in mo

the netherlands, austria, denmark, and sweden now appear to be ready to agree that $450 would bef thed made available as loans and negotiators are an .ntense standoff latest round of talks begins today in london. british negotiators say the eu concessions aren't enough. the eu's has attempts to compromise aren't being reciprocated. one democratic representative called florida's coronavirus outbreak out-of-control. donna shelley luther --, shall ala said there should be a lockdown of the entire sedate -- the entire state. comments suggest that months of trade-offs between health and the economy are far from over. president trump is again questioning joe biden's competence. the president told foxnews if biden have to sit through a tough interview, he would be on the ground crying for money. theade the remarks as democratic candidate continues to lead the race. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. ♪ pres. trump: many of those cases are young people that would hea

thing there are the northern nations and actually the no known as the frugal 5 the netherlands austria denmark sweden and they they have all gotten together and they actually have decided that they would rather have rather than the loans and they have put pressure on the other nations the more needy nations spain italy greece to accept more in terms of just you know rather than grogs they want to be loans that are repaid back that's the big issue so is the amount the amount of dispute is 750000000000 it sounds like the agreement has been made a lot of concessions to be made by this frugal 5 that they will now accept that there will be quite a considerable amount in terms of grants it's looks like 390000000000 in terms of grants and $360000000000.00 and tons of love so that's the issue how much and how it will be repaid what the northern nations want is they want to limit the costs and they want to impose fiscal constraints and fiscal responsibility on these other nations. and there's been a lot of tension between leaders of various countries as as we just don't want to play some sound here from the w

last minute adjustments have been made to a piece of the so-called frugal 4 that's austria denmark sweden and the netherlands significant disagreement remains the wrangling you set to continue later this afternoon the outcome unset. with let's bring in our financial market correspondent chelsea delaney in frankfurt chelsea what are investors there rooting for european solidarity whatever the cost or those with strings attached. and bester is do you generally want to see this deal get approved today the wrangling over this has put a lot of people on edge but investors obviously recognize this 750000000000 euro recovery fund is going to be really crucial for helping the economy and europe especially the harder hit southern european countries out of this recession but we have over the course of this morning as there has been reports that some of those through will for countries are becoming more willing to negotiate on the question of loans versus grants we have seen markets recover at that we've got the dax up here in frankfurt about 0.5 percent and the euro has also moved a little bit higher so there is optim

do well from financial support from brussels the frugal forward she mentioned to austria the netherlands denmark and sweden are deeply worried about this money being distributed in the form of grants that don't need to be repaid they prefer the idea of them being given to be different countries in the form of loans that deeply worried about the bloc becoming an traunch to end debts by boring all of this money from european financial institutions so war the likes of germany and france are really at the helm of trying to hammer out a compromise are hoping for is that the frugal 4 will reach an agreement with the other side of the debate and agree on a figure to allow a certain proportion of the money to be distributed in the form of grants but here from the other side of the bait italy and spain their economies commies hard hit by the pandemic they're hoping for a generous payout they've accused the frugal 4 of blackmailing the european union accusing them of having too much power in controlling the purse strings of the whole of the continent well in terms of levels of optimism things were running quite low

increased have been suffering and they think that the frugal for the 4 countries the netherlands denmark sweden and austria. are unhappy about this they say they've kept their budgets under control and they don't see the need to to hand money over to countries that her heavily indebted like them but at the same time. sean michel the head of the the president of the european. council. wants that money to be handed over so quickly as possible because the because these countries have been hit so hard by the coronavirus and so we may see some some negotiation back and forth as to the size of the loans versus the size of the of the grants and we are expecting a germany to be quite generous in opening its while it when it comes to the coronavirus response which stands of course in stark contrast to tear its usual reputation for being quite frugal and demanding you know austerity programs in a southern european countries why is that the case now well yes just a few years ago in speaking of greece we saw pictures of angle americal with hitler moustache. good on them for a day through the streets of athens people w

have become the frugal five, austria, the frugal four have become the frugalfive, austria, sweden, denmark, the netherlands, and it is all about the main issue, the money given out as grants rather than loans. 750 billion euros is the pot they want to race on the financial markets between the 27 countries to basically in the short—term survive the recession from covid—i9. 8% on average gdp contraction across europe, spain 11% contraction, so what do they do to try to boost the economy, bizjobs, get people working again, and it comes down to leader of the pack, mark rutter, they say that in dutch, he is keeping a stiff leg, which means he is and budging an inch on this. the dutch want to see a smaller amount given in grants, around 400 billion euros not 500 billion euros as planned. the italians and spanish don't want to see that pot reduced, they want to see that pot reduced, they want to see money without these conditions of having to pay it back because they say it is simply not their fault. last night, we were told from mark rutter that angela merkel and emmanuel macron the french and german leaders wal

here the frugal four have become the frugalfive, austria, sweden, denmark, the netherlands and finlandre is about the money that is given the money that is given out as grants rather than loans. so 750 billion euros is the part that they want to raise on the financial market, between the 27 countries, too, basically, in the short term, maybe survive the recession from covid—19. 8% on average gdp contraction across europe. spain, for example, have seen an 11% contraction. so what do they do to try and boost the economy, boostjobs, get people working again, and it comes down to relieve the leader of the pack, mark rutte, they say in dutch... he is keeping a stiff leg, that means he is not budging an inch on this because the dutch want to see a smaller amount given in grants. around 300 billion euros, not 500 billion euros as is planned, but the italians and the spanish, they don't want to see that part being reduced. they want to see money without these conditions or having to pay it back, because they say it is simply not their fault. last night we were told from mark rutte that angela

deepened divisions within the block in one camp nations known as the frugal for austria denmark sweden and the netherlands the wealthy northern states pay the most per capita into the e.u. shared reserves they want strict controls on how the recovery fund is shared prefer ing to loan countries money the positions at odds with spain and italy both economies were hit hard by the pandemic they want generous grants from the bloc that don't need to be repaid the german chancellor angela merkel and french president emmanuel mccrone have been trying to broker a compromise by offering e.u. countries a combination of loans and grants but the latest can't agree on how to do this. these compromises and i say this very clearly will not be made at the cost of european goals not out of principle but will be made because we are facing an unprecedented health economic and social crisis and because our countries need it european unity needs it a fierce argument also erupted between the dutch prime minister mark reiter and his hung garion counterpart viktor orban over whether money should be withheld from countries that fa

are feeling very left alone in certain respects and what they want to remind the netherlands and austria. denmark and sweden is that those countries manufacture things they sell things it's great that they had to triffitt rainy day fund saved up they were a much stronger financial position to have that umbrella open and be ready for the storm when it hit but in fact they'll be standing out there alone under their umbrella unless they make sure that italy spain france all these countries are also able to recover in the same way so what you hear is a lot of talk about divergence germany has recognized this how quickly did germany was able to unleash more than a trillion euro in support of its own economy other countries have not been able to do that they're already saddled with debt so they need this help and they're trying to explain that all together that you can make sure they recover in a much more cohesive way than if they struggle on their own saudi arabian state media is reporting the king solomon has been admitted to hospital for medical checks the 84 year old monk was taken to king via faisal special

the so—called frugal countries, the netherlands, austria, denmark and sweden, say the fund should berts on the mood in austria. this man tends his vineyards in eastern austria. the lockdown here has eased in recent weeks, but he has lost half his yearly income. he says it is important for austria to help other eu countries, but he says they should be given loans, not grants. people will say, why, we are working so hard, nobody is giving us money, we have been working so hard, we have our children, we have our next generation. we will help, but they should give us the money back. not tomorrow, but there should be a plan that the people who got the money, they have to pay back. he says he supports the tough position taken by the austrian chancellor sebastien kurtz in negotiating the eu's recovery fund. sebastien kurtz is doing well in the opinion polls and his message about being careful with austrian taxpayers money and bargaining hard with the eu is popular. but observers here say there will be a deal. the austrian government knows that in the end europe is about compromise and that

netherlands, austria, denmark and sweden.nt to cut down a bit on this recovery fund and also on the whole package of the eu budget. it seems it is going their way but we are still not there yet and the expectation now is that they are going to break up and maybe in an hourand are going to break up and maybe in an hour and have a good sleep and start again tomorrow morning. took me through what the frugal four are proposing and what some other southern states are counter proposing? the main sticking point for the frugal four is the gifts, as they call it in this recovery fund. it is more subsidies that the countries will get for free, that is not really true because there are a lot of conditions attached. the frugal four want to bring the amount of the subsidies as low as possible. around 500 billion, that is already the proposal by the eu council president to get it done a little bit but this is not going down far enough. the countries want to put very strict conditions on this money, they really want the countries in the sou

leaders is whether the money should be handed out as grants the so-called frugal for austria the netherlands finland and sweden insist it should be mostly loans and paid back he is considered one of the biggest obstacles to a deal austrian chancellor is a bust and coots goods things an agreement can be reached but that necessarily this weekend. there are still a lot of questions to be answered 1st of all to where should the funds flow who will be the main recipients what is the suitable criteria for this. though clearly delighted to be meeting up again in person the jovial atmosphere is not expected to last long the german chancellor angela merkel's cautious optimism in the days leading up to the summit seems to have subsided. this put off we will take a lot of willingness to compromise from all in order to agree on something that is good for europe that will be good for the people of europe with regard to the pandemic and that would be a suitable response to the economic difficulties we're experiencing so therefore i expect a very tough negotiation that you see as if we have a $401.00 for now leaders position

worst recession since almost 100 years but she faces opposition from the frugal for austria denmark the netherlands and sweden they are reluctant to give away money without strings attached merkel insisted that a compromise was necessary and sooner rather than later i got my eyes on the sea this is our common goal is to find an agreement as soon as possible because the depths of the konami slump urges us to hurry there is no time to lose otherwise the weakest will suffer i very much hope that we can reach an agreement this summer and comes along in the negotiations beginning in the coming weeks will determine the economic future of europe. the coronavirus crisis could become deadly for age i.v. patients who rely on lifesaving drugs nearly 40000000 people across the border living with hiv there is no cure for the disease that causes aids but anti-retroviral medications help to manage and control it but they cope with 910 demi is interrupting pharmaceutical supply chains which deliver h i.v. medications and there is a 2nd threat as well hiv patients are often scared to go to the hospital because of the pandemic

worst recession since almost 100 years but she faces opposition from the frugal for austria denmark the netherlands and sweden they are reluctant to give away money without strings attached merkel insisted that a compromise was necessary and sooner rather than later mines on the seriousness are common goal is to find an agreement as soon as possible because the depth of the canonic slump urges us to hurry there is no time to lose otherwise the weakest will suffer i very much hope that we can reach an agreement this summer long and then negotiate. beginning in the coming weeks will determine the economic future of europe. in golf the ryder cup has been postponed due to the coronavirus pandemic the biennial tournament was due to be held in the u.s. this year and as provisionally been moved to 2021 other golf tournaments are said to be held behind closed doors but the ryder cups organizers said they decided to postpone as facilities were yet to be built for the event in wisconsin the ryder cup sees teams from europe and the united states compete. members of the england and west indies cricket teams have taken an

it is as italy at this stage ok well the other 4 paymasters are not on the same page austria sweden the netherlands denmark they don't want to be part of this they don't want to borrow any more money can only machall get them on slug they are certainly going to be the biggest challenge going into these talks the frugal for the formal fiscally conservative states and that is going to be a big obstacle and merkel already said yesterday evening that a 2nd summit may indeed be necessary to get this that to get this recovery package through but at the same time she does not want to see financial recovery package being reduced in size and at the moment the package that's being proposed at least by the e.u. commission is to the tune of some 750000000000 euros so these are going to be very tense talks going into the weekend and so certainly we won't be seeing imagine some quick turnaround and there's a lot of discussions and compromises to be made in the coming weeks kate thanks very much for that kate brady. while in the u.s. and that's an ongoing surge of reported chronic virus cases there are a number o

worst recession since almost 100 years but she faces opposition from the frugal for austria denmark the netherlands and sweden. they are reluctant to give away money without strings attached merkel insisted that a compromise was necessary and sooner rather than later in mind some see this is our common goal is to find an agreement as soon as possible because the depth of the konami slump urges us to hurry there is no time to lose otherwise the weakest will suffer. i very much hope that we can reach an agreement this summer long could the negotiations beginning in the coming weeks will determine the economic future of europe. let's bring you up to date now with some of the latest coronavirus developments the us reported more than 59000 new cases on wednesday the biggest daily increase to date while the 900 people died from the disease for a 2nd straight day the highest level since early june and over 130000 americans have not died from covert 19 mexico also saw a record number of people infected by the virus with almost 7000 cases the country also reported $782.00 additional fatalities nigeria now has more tha

worst recession since almost 100 years but she faces opposition from the frugal for austria denmark the netherlands and sweden they are reluctant to give away money without strings attached merkel insisted that a compromise was necessary and sooner rather than later. mines on the sea this is our common goal is to find an agreement as soon as possible because the depths of the canonic slump urges us to hurry there is no time to lose otherwise the weakest will suffer and. i very much hope that we can reach an agreement this summer long negotiations beginning in the coming weeks will determine the economic future of europe. germany's cabinet has approved a strategy aimed at boosting efforts to achieve equality between men and women in all future legislation and government funded programs and stated aims include bringing more women into management positions helping them reconcile family and work commitments and encouraging a fairer distribution of care work between the sexes it comes after angela merkel's party agreed a proposal to increase fuel representation within its ranks. and was well off one day ally and 3

worst recession since almost 100 years but she faces opposition from the frugal for austria denmark the netherlands and sweden they are reluctant to give away money without strings attached merkel insisted that a compromise was necessary and sooner rather than later like the mines on a serious. it's our common goal is to find an agreement as soon as possible because it's depths of the canonic slump urges us to hurry there is no time to lose otherwise the weakest will suffer. i very much hope that we can reach an agreement this summer in the long and the negotiations beginning in the coming weeks will determine the economic future of europe. i would joining me now from brussels is our correspondent barbara vessel good evening to you barbara european leaders they have been calling for greater unity among member states for as long as you and i can remember can the german chancellor can she conjure up that marigold magic that we have seen in action before. at least she's given her about something we know referee know her style when she talks and when i'm glad america does passion and i believe in europe afterward

, on board with countries such as the frugal's, as you mentioned, the likes of the netherlands, austria, denmark, swedenheather: what worries me, i don't bet against this project because it definitely showed us that it can sustain itself. what i'm worried about is the divergences. economically, between the north and the south. you can see that in the german response to the pandemic and the italian response. the germans are able to use their generous budget surplus into really spray down companies with state aid. italy, spain, even france, they don't have the means to do that. if the south continues to struggle economically and the north can manage through this, they are not going to be able to bridge those economic caps. then i just worry about the west versus the east. in this is all of hungary really becoming more liberal by the day. poland, they will gladly take eu funds, but they are going to work against the eu in a variety of agendas. it is not going to fall apart but it is going to get more and more unwieldy. that is what we have seen over the past four days. they are having a difficult time pape