British Prime Minister David Cameron’s victory cries in EU budget battle may prove premature as the fight over spending rumbles on.
After marathon talks European leaders had decided upon a three percent cut, a first in the history of the EU.
However, now it is up to the European Parliament to vote on it, and MEPs have made their position quite clear.
European Parliament President, Martin Schulz refuses to sign a ‘deficit budget’ and is calling for a revision clause in the current budget that could be agreed upon by a qualified majority and not by vetoes for everyone.
European Parliament members are scheduled to vote on the 2014-2020 budget in the next three months. President Schulz has entertained the idea of a secret ballot to avoid MEPs being bullied by national governments.
If they do reject it, the current budget will roll over with a two percent increase for inflation. This would mean an effective win for MEPs.