Last minute negotiations over the EU’s budget delayed the start of the two day leaders’ summit in Brussels on Thursday.
The first talks of the year between the 27 member states come after the failure to reach a deal last November over the bloc’s finances for the next seven years.
Northern European countries including Germany and the UK have demanded similar deep cuts in Brussels to those made at the national level.
France has held out for the budget to be more or less be maintained to allow investment that will help reverse high levels of unemployment.
Expenditure, originally projected at more than a trillion euros has been trimmed several times.
An Italian official says he expects a further 20 billion euros to be agreed before the meeting gets underway. That would bring payments down to around 900-905 billion euros.
Even if the budget is approved by leaders, it still has to be voted on by the European parliament. MEPs are likely to oppose any deep cuts.
If the deal is blocked, the current budget will be rolled over into 2014 and a new agreement may not be possible before late 2014.
Copyright © 2014 euronewsMore about:
- 1Putin takes control of Russia’s defence industries and calls for new weapons
- 2Iceland puts on a show as two of its volcanoes spew out lava
- 3Russia: new EU sanctions look ‘strange’ says Putin
- 4Iceland’s latest volcano eruption worsens
- 5Young American sentenced to six-years hard labour in North Korea
- 1Podemos: Spanish indignation in Brussels’ corridors of power | euronews, reporter
- 2Israel announces it will seize 400 acres in West Bank | euronews, world news
- 3Japan sounds bluefin warning, calls for 50% catch cut | euronews, world news
- 4Hoverbike on the horizon | euronews, hi-tech
- 5China executes eight Muslims convicted of terrorism | euronews, world news
- 63D printing: a driving force in design and engineering | euronews, hi-tech
- 7Ukraine accuses Russian aid convoy of stealing factory equipment | euronews, world news
- 8#ن: How an Arabic letter was reclaimed to support Iraq’s persecuted Christians | euronews, world news
- 9Young Yazidi girl escapes Islamic State kidnappers | euronews, world news
- 10New car offers freedom for disabled drivers | euronews, hi-tech
- 11Everything you need to know about the Ebola virus | euronews, world news
- 12EU leaders name Donald Tusk European Council president | euronews, world news
- 13Turkish ferry makes high-speed final landing | euronews, no comment
- 14Risk of fresh ash cloud threatens European air travel | euronews, world news
- 15Canada sends hilarious barb to Russia over Ukraine ‘incursions’ | euronews, world news
- 16The business benefits of EU chemical regulation | euronews, business planet
- 17Man, 27, fails in suicide bid after tigers reject chance to eat him | euronews, world news
- 18Iceland warns Europe’s airlines of possible volcanic eruption | euronews, world news
- 19Thousands of Catalans call for choice on split from Spain | euronews, world news
- 20Iceland puts on a show as two of its volcanoes spew out lava | euronews, world news
Wires > News
- 06:23 CET Quake strikes northeast of Tokyo, no reports of serious damage
- 06:10 CET Large blast kills at least one in Afghan capital as smoke rises…
- 06:09 CET Japan PM’s liberal newspaper critic is humbled by errors
- 06:08 CET Obama to announce ramped-up efforts to beat Ebola
- 05:47 CET Odile batters Mexico’s Baja resorts, knocks out power to most area
- 03:43 CET Philippines evacuates thousands as volcano glows red
- 03:09 CET Pussy Riot says found supporters, autograph-seekers in Russian…
- 02:44 CET Turkish military weighs ‘buffer zone’ against Iraq, Syria threats…