Close
Log in
Please enter your login details

Skip to main content

Breaking News
  • Angela Merkel says the conditions for starting the discussions for a new aide program to Greece not yet there
  • German Chancelor says waiting for the reactions of all eurozone members
  • French President says France and Germany take into account the greek vote
  • François Hollande says the door is open for discussions, Paris and Berlin wait for serious suggestions
  • Greek banks to remain closed Tuesday and Wednesday; 60 euro withdrawal limit remains, banking federation announces
  • Euclid Tsakalotos, Greek debt negotiator, to be named as country’s new finance minister, Reuters reports
Facebook Twitter Google+ Reddit

It was all smiles as German Chancellor Angela Merkel watched a football friendly between her country and France with French President Francois Hollande – but will the mood be carried into Thursday’s EU summit?

The issue of cuts to the EU budget is dividing the two – with Hollande vowing to protect European spending and Merkel pushing for a bigger reduction.

At the previous summit in November, President of the European Council Herman Van Rompuy suggested a budget of 973 billion euros, 25 billion less than the figure originally put forward – but there is a push for even more cuts from Germany, the Netherlands and the UK.

EU Parliament President Martin Schulz is against those who want more reductions.

“My colleagues and I are not ready to accept that member states make the same mistakes on the European level that they have at home – that they agree a ‘deficit’ budget that’ll be overstretched. I’m saying quite clearly that I won’t sign any such agreement,” Schulz told euronews.

Leading the charge for a smaller budget is British Prime Minister David Cameron.

It is believed he will push for the budget to be well below 960 billion – the very figure which could be floated as the next compromise at the Brussels summit.

More about: