The leaders of Germany and Italy on Monday voiced their support for a compromise plan for EU’s €750 billion ($852.7 billion) coronavirus recovery fund.

Speaking at a joint news conference following their meeting in Meseberg Castle outside Berlin, Chancellor Angela Merkel said Germany and Italy agree on the basic elements of the plan, as recently revised by EU Council President Charles Michel.

But she also acknowledged that the EU’s 27 members are still divided on proposals for the recovery fund as well as the bloc’s long-term budget.

“I can’t say today whether we will reach an agreement on Friday, but of course this would be good for Europe on all accounts,” she stressed.

Italian Prime Minister Giuseppe Conte visited Berlin ahead of a key summit of EU leaders starting on Friday in Brussels.

Following his meeting with Merkel, Conte called on fellow EU member states to resolve their differences quickly.

“We must act fast, because history has taught us that even the best remedy will not worth much if it comes too late,” he stressed.

Conte welcomed EU Council President Charles Michel’s compromise plan which he revealed last week, but also signaled that Rome also wants some changes.