European Union Leaders Hold Two-Day Conference in Brussels to Negotiate an EU Budget

by Colonel on February 7, 2013

European Union leaders are due to begin a two-day summit in Brussels to try to strike a deal on the next seven years of EU spending.

High EU expenditure at a time of cutbacks and austerity across the continent is the main issue dividing the 27 member states.

They failed to reach a compromise at a similar summit last November.

[W]hatever is agreed still has to go to the European Parliament and MEPs are big backers of EU spending, he adds.

The EU Commission – the EU’s executive body – had originally wanted a budget ceiling of 1.025tn euros (£885bn; $1.4tn) for 2014-2020, a 5% increase. In November that was trimmed back to 973bn euros.

The UK, Germany and other northern European nations want to lower EU spending to mirror the cuts being made by national governments across the continent.

” — Copyright 2013 BBC

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