EU leaders show first signs of compromise on stimulus plan

Signs emerged that leaders of northern European Union countries were willing to compromise on a 1.8 trillion euro ($2 trillion) coronavirus stimulus plan on Monday as talks in Brussels extended to a fourth day.

Divided and slow to respond at the start of the coronavirus outbreak in Europe, EU leaders believe they now have a chance to redeem themselves with an aid plan that would show Europeans the bloc can react to a crisis.

But old grievances between countries less affected by the pandemic and the indebted countries of Italy and Greece, whose economies are in freefall, have resurfaced, pitting Rome against The Hague and its allies in Stockholm, Copenhagen and Vienna.

With leaders not expected to restart until 1400 GMT, much rested on European Council President Charles Michel’s efforts to present a new basis for a deal, taking into account the competing demands of north and southern Europe.

“An agreement is a necessity”, French Finance Minister Bruno Le Maire told French BFM TV on Monday as weary diplomats slept or prepared for another day in what could be the longest-ever EU summit.

In the small hours of Monday, French President Emmanuel Macron lost patience with the “sterile blockages” of the Netherlands, Sweden, Denmark and Austria, later joined by Finland, banging his fist on the table, one diplomat said.