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Michel floats €50B shift in compromise proposal on EU coronavirus fund
EU leaders on Saturday afternoon were debating a new compromise proposal for a landmark budget-and-recovery package that would shift €50 billion in funding from grants to loans. Council President Charles Michel put forward the reduction in the grants portion of the proposed coronavirus recovery fund as part of a broader, 65-page revised proposal designed to break the deadlock. A lengthy day of negotiations on Friday ran until nearly midnight but saw little progress.
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