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Deal on new 2015 EU budget reached
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EU member states and the European parliament yesterday said they have reached a deal on a new 2015 budget for the 28-country bloc after bridging gaps that threatened to scupper a deal.
The two had failed to reach a deal in November as cost-conscious European Union governments came under heavy domestic pressure to cut the size of a Brussels bureaucracy viewed as profligate.
Complicating matters this year was an angry row over the recalculation of member state contributions to the EU budget that saw Britain tapped to pay an extra 2.1 billion euros (US$2.6 billion).
In the end, both sides said they agreed to a budget that calls for 141.2 billion euros in payments.
“We have a deal,” liberal European MP and negotiator Jean Arthuis said. “It’s now just left for us to formalize it.”
The agreement also provides for an increase of payments by 3.5 billion euros for the 2014 budget to tackle what the European Council, which groups the leaders of the member states, called “the unprecedented scale of unpaid bills.”
But the EU has 25-30 billion euros of unpaid debts, Arthuis said.
Finance Minister Pier Carlo Padoan of Italy, which holds the rotating chair of the council, welcomed the budget deal.
The deal tackles the “need to address the backlog of payments, the importance not to jeopardize member states’ efforts to consolidate their public finance and the necessity to provide indispensable stimuli for creating jobs and generating growth in the future,” he said.
The budget includes 8 billion euros in seed money to help launch European Commission chief Jean-Claude Juncker’s 315-billion-euro investment plan to kickstart the stalling EU economy.
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