Chances for deal at EU summit on Saturday "very slim" - diplomat

Chances of a deal on a coronavirus economic recovery scheme at a European Union summit on Saturday are "very slim", a diplomat from an EU members state said, after two full days of talks failed to produce a breakthrough.

"The chance is very slim that an agreement will be reached tonight. Very slim," the person said, adding that the thrifty camp of wealthy northern EU countries was pressing for deeper cuts to the new proposed recovery fund and bigger rebates on the core EU budget, among other demands.