Monday 11 February 2013

EU leaders agree 3% budget cut deal in Brussels


EU leaders have reached an agreement on the budget for 2014-20 after lengthy talks in Brussels.
European Council President Herman Van Rompuy announced the deal and said in a statement it was "worth working for".
The new budget ceiling amounts to 960bn euros (£812bn; $1.3tn). It is the first time the EU's multi-annual budget has been reduced.
UK Prime Minister David Cameron, who had been pressing for cuts, hailed it as a "good deal for Britain".
"I think the British public can be proud that we have cut the seven-year credit card limit for the EU for the first time ever," Mr Cameron said.
French President Francois Hollande, who had argued against big spending cuts, said it was a "good compromise".
German Chancellor Angela Merkel also welcomed the deal, which represents a 3.3% reduction from the previous seven-year budget.

7 comments:

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  5. Wow, the EU’s agreement on a 3% budget cut is a significant step forward! It’s impressive to see such a substantial reduction, marking a historic shift in budget management. Much like how vc firms in Pakistan strategically adjust their investments, this deal shows careful planning and compromise at the highest level.

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  6. It's impressive to see EU leaders reach a deal with a historic budget cut! Just as early stage investors seek to optimize their investments, this agreement reflects a strategic approach to managing resources. It's a significant step forward in fiscal responsibility.

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  7. It's impressive to see how leaders from different nations managed to come together and strike a compromise on such a crucial budget. The fact that it's the first time the EU's multi-annual budget has been reduced speaks volumes about the growing need for financial restraint and collaboration. It’s a win for countries like the UK, pushing for cuts, and also for others, like France, advocating for balanced compromises. Truly, a step forward for European unity!

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