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. Last Updated: 07/27/2016

EU Eyes Farm Aid

LUXEMBOURG () -- The European Union's Irish presidency Wednesday proposed paying out $650 million to beef farmers in an attempt to break the deadlock over a plan to slash production in line with the slump in consumption and prices caused by "mad cow" disease.

The proposal of a concrete figure for aid to farmers, thousands of whom face bankruptcy this winter, put a deal on the package in sight, officials said. The extra aid would be financed partly by bringing forward premium payments worth $300 million from next year.