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In Brussels resumed the prolonged four-day EU summit

Lingering on four instead of the two-day summit of EU leaders resumed in Brussels almost at 21.30 local time (22.30 GMT), said the press Secretary of the head of the European Council of Barend Lats.

"Good evening and welcome to the European Council on the multi-year budget and Fund recovery. The President has just started a plenary meeting of the c-27," - wrote in Twitter a press-the Secretary of Charles Michel.

It was initially planned that the meeting will start at 16.00, but then the start was postponed several times because of the ongoing phone consultations, Michel. Before the plenary discussion, Michelle said that it had prepared a new proposal for the main theme of the summit: the recovery package the European economy, which was the result of a three-day collaboration.

According to the draft document, placed at the disposal of journalists, in its new proposal Michelle wants to cut 500 billion to 390 billion euros, the amount of subsidies in the created Fund of the European economic recovery after the crisis caused by the coronavirus, the total amount of 750 billion euros. The amount of loans will amount to 360 billion instead of 250.

Thus, the President of the European Council made concessions to the leaders of the "Thrifty four" (the Netherlands, Austria, Denmark, Sweden), who spoke strongly against the large amount of subsidies in the Fund.

According to the proposal of the head of the Council of Europe, 70% of the Fund's recovery should be used in 2021 or 2022 on the basis of the criteria of the EC. Another 30% can be used in 2023. The repayment of European debt on this Fund should be completed before 31 December 2058 year. The proposal also retained the previously announced amount of multi-year financial plan of the Union for the 2021-2027 years 1,074 trillion euros. In addition, countries are net donors (Germany, Netherlands, Denmark, Austria and Sweden) are expected to provide discounts or refund of part of contributions from the European budget.