BRUSSELS – The Special European Council meeting on the EU’s long-term budget for 2021-2027 concluded on Friday night, nearly 20 minutes after its restart following a recess.

A press conference by European Council President Charles Michel is scheduled to follow.

According to EU officials quoted by AFP and Reuters, member states did not reach an agreement.

European Council President Michel: No agreement on new budget, we need more time

European Council President Charles Michel said the EU member states did not reach an agreement on the new 2020-2027 budget, following the end of a special session on Friday night.

At the heart of the disagreement between the member states is how to fill the gap left in revenues by the UK’s exit from the bloc.

“Unfortunately today we realized that it’s not possible to reach agreement and that we need more time,” he said.

The negotiations are very hard, especially after the exit of Great Britain from the EU, Michel he added.

By ANA-MPA/D. Manolis