Time is pressing on EU leaders to agree budget, recovery fund -Merkel

Time is pressing on EU member states to reach a deal on proposals for a long-term budget and a stimulus plan, Chancellor Angela Merkel said on Tuesday, adding that Germany would push for a compromise at a summit of leaders this week.

"It would be desirable to reach a quick result but I don't know whether there will be success on Friday and Saturday," Merkel said during a news conference with Spanish Prime Minister Pedro Sanchez. "Time is pressing."