EU Summit Continues For Third Day On COVID-19 Relief Funding

"Frugal Four" nations of the Netherlands, Austria, Denmark and Sweden are pushing for more restrictions on EU loans and grants for virus relief.

EU Summit Continues For Third Day On COVID-19 Relief Funding
Francisco Seco / AP

Negotiations at the European Union Summit have entered a third day as leaders fail to come to an agreement on coronavirus recovery funding. 

On Sunday, the 23 nations that make up the EU continued to negotiate the terms of a budget that includes about $860 billion in coronavirus relief loans and grants.

Tensions reportedly rose on Saturday as a so-called "Frugal Four" nations, led by the Netherlands, pushed to limit coronavirus-related grants.

Reuters reports Hungarian Prime Minister Viktor Orban has been holding up the deadlocked decision with demands for stricter conditions on how money is spent. 

Ahead of Sunday's meeting, French President Emmanuel Macron tweeted, "We are ready to compromise without giving up on ambition. Everyone must take their responsibilities."

The EU summit was originally set to be two days. But entering a third day, leaders including Macron and German Chancellor Angela Merkel said there may still be no resolution on the seven-year budget, which totals about $2.1 trillion. 

Additional reporting by Mike Corder and Raf Casert of The Associated Press.