EU to cut budget for first time in history

European Union leaders agreed on their first ever budget cut in the EU’s 56-year history last Friday.

Following two days of talks, a €908bn budget limit for 2014 - 2020 was agreed on, with cuts of €34.4m per year over the next seven years. 

The budget required the backing of all 27 members and was negotiated during a marathon 25-hour discussion session in Brussels. 

Following the discussions, news of the decision broke when president of the European council tweeted: 

Continued...

» Register now

The full article is available to registered AccountingWEB members only. To read the rest of this article you’ll need to login or register.

Registration is FREE and allows you to view all content, ask questions, comment and much more.

Comments

Don't believe everything you read!!

nekillim | | Permalink

They have ways and means of getting around this!!!

The sooner we are out the better!