Michel lays out compromise budget plan for summit

European Council president Charles Michel on Friday (10 July) laid out his compromise proposal for the long-term EU budget and recovery package which he hopes will bridge the deep gaps between EU governments.

Michel will next week chair the first physical meeting of heads of state and government since the coronavirus pandemic - after he had already attempted to come to an agreement on the budget back in February.

The Belgian politician offered a smaller, €1.074 trillion EU budge...