European leaders have reached agreement on the EU´s long-term spending plans.
The president of the European Council Herman Van Rompuy announced the news with a tweet message after he chaired the meeting of 27 leaders.
The agreement – after 24 hours of negotiations – fixes EU spending at 960 billion euro over the seven years from 2014 to 2020.
Prime Minister David Cameron called it a “good deal for Britain”. He is one of those who has been pressing for a reduction.
This is the first ever net reduction to such a budget in the EU’s history.
The number is down by some three percent from the last seven-year plan.
It now has to be approved by the European Parliament, which could take months. Approval is far from guaranteed as leading legislators have already expressed opposition.
“The European Parliament will not accept this deficit budget if it is adopted in this way. That is certain,” the parliament’s president Martin Schulz said.
The deal took so long to reach deal because it had to meet the demands of northern European countries such as Britain and the Netherlands that wanted belt-tightening, while maintaining spending on farm subsidies and infrastructure to satisfy the likes of France and Poland.
- 1euronews live TV - News | euronews : the latest international news as video on demand
- 2International news | euronews, latest international news
- 3Most Istanbul blast victims ‘were German’, says Turkey
- 4Thousands in Bucharest blame corruption for Friday’s nightclub blaze
- 5Madrid to appeal Catalan road to independence from Spain
- 6Hope vs harsh reality: challenges to global education goals in the 21st century
- 7Moldova: protesters storm Parliament
- 8Partnering to grow Europe
- 9Jorge Lorenzo clinches his third MotoGP title in Valencia
- 10Norway sends Syrian refugees back to Russia
- 11Merroussis clinches the 33rd Athens Authentic Marathon
- 12Extras : euronews : the latest international news as video on demand
- 13‘National’ funeral for Celine Dion’s husband ‘over the top’
- 14Special Reports : euronews : the latest international news as video on demand
- 15Brussels remains on high alert: ‘multiple operations underway’ across Belgium
- 16Benzema questioned in French sex tape case
- 17Paris: “I would rather see my brother in prison than in a cemetery”
- 18latest Learning World - All Programmes | euronews : the latest international news as video on demand
- 19account : euronews : the latest international news as video on demand
- 20Caught by the Maasai at mid-on ‘Warriors’ play cricket