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An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

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rdf:type	schema:NewsArticle
schema:articleBody	EU chief Charles Michel unveiled Friday his latest proposal for a 750 billion euro pandemic recovery fund in hopes of winning over more frugal member states. Europe has been thrust into its biggest recession in history and Michel, who coordinates among EU government leaders, is hoping to win a green light for the package at a summit next week. This will be the first in-person summit since the pandemic engulfed Europe in March and leaders will also seek approval of the bloc's long-term budget. As a sweetener for the so-called "Frugal Four" -- the Netherlands, Sweden, Denmark and Austria -- Michel proposed to revise the EU's seven-year budget down to 1.074 trillion euros ($1.2 trillion), 13 billion euros less than an earlier proposal. Michel also said countries with long held rebates on their European contributions would continue to get them, despite a big push to do away with these discounts. Rebates are an EU custom made famous by former UK prime minister Marget Thatcher who four decades ago called for Britain to get "our money back". Michel also gave more power to EU member states on how the recovery fund would be distributed, giving EU capitals more power over the spending plans of their neighbours. This will be sure to revive tortured memories of the debt crisis bailouts, where Greece, Portugal and Ireland were subjected to the oversight of the EU and IMF. Michel did not give ground on the main point of contention: whether aid should be handed out in the form of grants or -- as the "frugals" demand -- loans. Austria and the Netherlands on Thursday showed signs they may be softening their stance. Dutch Prime Minister Mark Rutte said Thursday he considered the proposed fund "very important", so long as the cash came with conditions attached. Sebastian Kurz, his Austrian counterpart, suggested he could back the package if aid was tied to certain conditions, such as climate protection, willingness to reform and rule of law. The recovery plan, as well as the EU budget, require unanimous approval among member states at the July 17-18 summit. arp/pdw/rl
schema:headline	EU chief makes bid to break recovery fund deadlock
schema:mentions	Prime Minister of the Netherlands Great Recession Sugar substitute Sebastian Kurz Mark Rutte Budget of the European Union Margaret Thatcher USA Gymnastics Republic of Ireland Austria Greece International Monetary Fund Denmark Netherlands Sweden European Union Pandemic Portugal and the International Monetary Fund Anti-Revolutionary Party European debt crisis Climate change mitigation Personal defense weapon Charles Michel Demography of the United Kingdom
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-07-10 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	neutral sentiment
http://data.cimple...readability_score	71 (xsd:integer)

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