Thursday 17 April 2014

European Union leaders reach agreement on €960m EU budget

Taoiseach Enda Kenny with British Prime Minister David Cameron, left, during the EU summit in Brussels (AP)

THE EU has reached agreement on the bloc's long-term spending plans until the end of the decade on Friday after more than 24 hours of negotiation, the president of the European Council said.

"Deal done," Herman Van Rompuy, who chaired the meeting of the 27 EU leaders, said in a message sent on Twitter.

The agreement, which fixes EU spending over the seven-year period from 2014-2020, set a ceiling of €960bn for appropriations. It will now go to the European Parliament for final approval, a process that could take several months.


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