EU Tables Budget Proposal
Source: Agencies |
July 1, 2011, Friday
|
Print Edition
Print Edition
THE European Union on Wednesday proposed a budget worth 1.025 trillion euros (US$1.48 trillion) for the seven years between 2014 and 2020, up 5 percent from the previous budget period.
The budget outline from the European Commission, the EU's executive, starts months of wrangling with the 27 member states, which are determined to keep spending down, and the European Parliament, which will seek as much input as possible on where the money goes.
According to the proposal, the biggest amount of money, about 376 billion euros, would go to boosting the EU's underdeveloped regions. That's followed by about 372 billion euros to support the region's farmers.
"We are proposing an ambitious, and at the same time responsible budget," said European Commission President Jose Manuel Barroso.
The budget outline from the European Commission, the EU's executive, starts months of wrangling with the 27 member states, which are determined to keep spending down, and the European Parliament, which will seek as much input as possible on where the money goes.
According to the proposal, the biggest amount of money, about 376 billion euros, would go to boosting the EU's underdeveloped regions. That's followed by about 372 billion euros to support the region's farmers.
"We are proposing an ambitious, and at the same time responsible budget," said European Commission President Jose Manuel Barroso.
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