#Euco Day 4 begins with von der Leyen saying she is hopeful of chances of an agreement: "we're not there yet but things are moving in the right direction" 
Macron enters summit building saying there is a "spirit of compromise" this morning."Things have moved forward, we need to go into more detail". #euco
Merkel says progress means there is "hope" that a deal is possible. "These are incredibly tough negotiations. They will now continue. But an extraordinary situation requires extraordinary efforts. I hope that we can also cover the remaining distance, though it won't be easy."
Rutte at 6am this morning made clear how he would sell a deal back home: he's got a "super emergency brake"; higher rebates that when talks started; and clear committment for "grants for reforms". And getting trashed by Orban will help more than it hurts him #euco
Mark Rutte chose to stay in a hotel cheaper than the usual spot for most EU leaders at summits (Sofitel). But it's also the hotel right next to the International Press Centre ...which means this happens now
Rutte says he doesn't mind being betrayed as the bad guy of #euco and says it is understandable that all leaders get "agitated" after long days of talks. Says he is fighting for his national interest like every other leader
**portrayed 😳
#Euco delayed to at least 5pm. Plan to have a new negotiating draft for 4pm has not materlialised after last minute haggling over size of grants. French are pushing for close to €400bn as possible (we're at €395bn right now). But higher grants will mean demand for higher rebate
Potential new impasse in the negotiations. Macron is pushing for figure as close to €400bn as possible (~€395bn) but is being met with a wall of Austrian resistance. A new draft for 5pm looks optimistic #euco
We seem to be entering the "Tesco phase" of negotiations over grants - where every little penny helps. Talk that the €390bn grants could be linked to 2018 prices or current prices -- helping some claim it is under €400bn and others that it is close or over €400bn 🧐😱 #euco
This is the sound of blood being squeezed out of a Frugal stone #euco
It's almost like French tactic of briefing to the international press that they said "basta" to Austrian Kurz who "doesn't care" about Europe and comparing Frugals to David Cameron is now backfiring when Macron asks for a couple of billion today....
Things are moving. Despite French push, seems like €390bn will be the figure for the grants. Now Michel will need to straighten out other outstanding parts of negotiation - including climate taeget and rule of law - to produce new negotiating draft
In what could be the most important meeting of the day, rule of law discussion underway between leaders of 🇵🇱🇭🇺🇩🇰🇳🇱🇫🇷🇩🇪🇱🇻🇱🇺 #euco
Dare I say it but the latest and maybe *last* negotiating box is about to drop #euco
Michel has a new text with a proposal of €390bnin grants - "the fruits of a collective effort". Says negotiations are still difficult, many predicting another long long night
🔔🔔 the new nego box lands. The Just Transition Fund has gone down from 30bn to 10bn, Horizon is halved.
More rebates for some Frugals - comparison of old and new. Austria nearly doubles!
The new nego box keeps unchanged language in the rule of law and adherence to climate targets. Expect these to be both areas for Poland and Hungary to fight on over dinner #euco
Section on governance looks exactly as Rutte wanted. Finance ministry officials can raise their objections. Still very wooly on how the process works but in extremis it can land in the hands of the European Council
Comparison of old and new nego box. Overall this text is bad news for Poland with Just Transition Fund getting the axe and existing language on rule of law and climate targets unchanged. The generous rebates will be big big sticking point over dinner
Brits not around but legacy of Thatcher is alive and well #rebates
Michel's offer of 💶💶to win over the Frugals.
ft.com/content/dc5173…
ft.com/content/dc5173…
#euco is on a technical break. Prime ministers and presidents are with their delegations and diplomats from all corners suggest that a deal is imminent
EU summit historians suggest that record for longest European summit will be broken at 4am tonight (surpassing Nice summit, 2000). Here's hoping that desire to be in the history books doesn't take over desire for sleep tonight 🥴
I stand corrected. Thank you @EUCouncilPress but I hope the point still stands. Please.
As we approach the end, this moment on late Sunday afternoon was ingredients for tonight's final grand bargain
#euco ends with a deal. And just 35 minutes shy of the record for the EU's longest summit
Merkel says "Europe has shown it is able to break new ground in very special situations" at the end of #euco. "We have laid the financial foundations for the EU for the next seven years to come".
Merkel says process of awarding higher rebates to the Frugals was "painful" but justified. Says Germany did not demand higher rebates as part of its role as the presidency #euco
Merkel says Orban has told her he wants to end the Article 7 process against Hungary and she will support him to close it. "We will support Hungary but the crucial steps will have to be taken in Hungary". #euco
Most striking part of Merkel speaking after #euco was not comments on the deal but her stance towards Hungary and Poland. She said she refused to "single out one or two countries" when it came to the rule of law mechanism and would help Orban end his Article 7 process
After 5 days and 4 nights of summitry - with recriminations, rebates, birthday presents, helicopters, walk-outs, and that roof-top terrace - here's the @ft's take: ft.com/content/713be4…
