Facing a 75 billion euro shortfall due to Brexit, the remaining EU members have been unable to agree on a 2021-2027 budget, with differences between two rival blocs coalescing around France and Germany too big to overcome. France’s desire to preserve the Common Agricultural Policy (CAP) matched the demands for continued development aid by the EU’s less wealthy members, but ran into determined opposition by Germany and the “frugal quartet” of Denmark, Austria, Sweden and the Netherlands. “Unfortunately, today… it was not possible to reach an agreement,” said Charles Michel, president of the European Council. “We need more time.” Unable
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