Michel seeks agreement for Regeneration Fund at EU Summit

European Council President Charles Michel requested an agreement on the EU's economic recovery plan, two days before a summit of 27 countries' leaders.

This is the time. An agreement is essential. We must find solutions and reach an agreement for the benefit of our citizens”, he writes at his invitation to European leaders.

The achievement of an agreement will require a lot of work and political will from all over”, he stressed.

Part of the negotiations, a 750 billion-euro recovery plan consists of 250 billion euros in loans and mainly subsidies on the value of 500 billion euros, which will not have to be repaid by profitable states. It is supported by the long-term European budget of 1 074 billion euros.

It is the first time that 27 EU heads of state and government will meet face-to-face for a summit in Brussels since February and the gradual easing of restrictive measures regarding the body's body.

Negotiations are expected to be long and difficult, and this extraordinary two-day summit may not be the last.