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Banks

EU summit reconvenes with new draft text on Britain deal: officials

BRUSSELS (Reuters) - European Union leaders reconvened an extended summit late on Friday to examine a new draft deal intended to keep Britain in the 28-nation bloc, with diplomats optimistic that an agreement was at hand.

The summit was forced into extra time due to wrangling over welfare benefits for migrants workers from other EU countries and safeguards for Britain’s financial services sector from euro zone regulation, but officials said fixes had been found for both issues.

An EU official said there were no outstanding issues left in the draft text, which EU Council President Donald Tusk believed was a “fair and balanced” compromise that all could accept.

British Prime Minister David Cameron earlier canceled a planned cabinet meeting in London to stay on in Brussels and work for a deal he can sell to skeptical voters in a referendum expected to be called for June 23.

Reporting by Andreas Rinke and Jan Strupczewski; Writing by Paul Taylor; Editing by Alastair Macdonald

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