Germany sees agreement on recovery fund cash distribution in October

Germany, current president of the European Union, expects to resolve controversial details of the distribution of money from the 750 billion euro ($879.30 billion) recovery fund with its EU partners this month, government sources said on Friday.

Germany, current president of the European Union, expects to resolve controversial details of the distribution of money from the 750 billion euro ($879.30 billion) recovery fund with its EU partners this month, government sources said on Friday. The European Union's 1.1 trillion euro budget for 2021-2027 and the 750 billion recovery package, agreed by EU governments after a tortuous four-day summit in July, have to be agreed unanimously.

"We are very far advanced and not far from an agreement," the sources said ahead of a meeting of EU finance ministers to discuss the package on Monday and Tuesday. A compromise could be possible in the short term, they said. The goal was for money to start flowing from January.

Germany has proposed a scheme that links access to EU money, including the recovery fund, to respecting the rule of law, a document seen by Reuters showed on Monday.