EU to cut budget for first time in history

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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: 

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Rachael Power
Community Correspondent
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By JC
11th Feb 2013 14:54
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13th Feb 2013 12:04

Don't believe everything you read!!

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

The sooner we are out the better!

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