European Union finance ministers did not reach agreement on more economic support for their economies.
- Talks went for 16 hours on Tuesday and into Wednesday (EU time)
Proposed aid package would have credit lines from the euro zone's European Stability Mechanism (ESM) bailout fund providing cash worth up to 2% of a country's economic output or 240 billion euros in total for the 19-nation euro zone. - details are still in contention.
What was agreed:
- giving the European Investment Bank guarantees that would boost its lending by an additional 200 billion euros to struggling firms
- proposal the EU borrow 100 bn EUR to subsidise wages
- that an EU recovery fund is needed (but again, the details were not agreed to, how its to be funded etc. - joint debt issuance still very much not agreed to)
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OK, so EU talks from 1500GMT.
Also on Thursday, OPEC+ official talks from 1400GMT.
