EU leaders set for budget summit in Brussels

07.02.2013 09:14 "Agro Perspectiva" (Kyiv) — 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, Voice of Russia reports referring to BBC. 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. The EU Commission - the EU’s executive body - had originally wanted a budget ceiling of 1.025tn euros for 2014–2020, a 5% increase. In November that was trimmed back to 973bn euros and later revised down to 943bn euros. However, with other EU spending commitments included, that would still give an overall budget of 1.011tn 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. Downing Street said on Wednesday that Prime Minister David Cameron was intent on seeking an agreement to lower EU spending. «The UK’s position is unchanged since the November European Council - spending needs to be reduced further than the proposals on the table,» a spokesman said.

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