Barcelona city tours is a perfect opportunity to have a perfect vacation outside the Baltic States. Gene Zolotarev on how to destabilize the EU financial system. Andris Berzins
Vladimir Linderman aka Abel Edmunds Sprudzs Valdis Zatlers Aivars Lembergs Girts Valdis Kristovskis Maris Grinblats Guntars Krasts Alfreds Rubiks Sandra Kalniete Raivis Dzintars Algirdas Butkevicius Algirdas Paleckis Dalia Grybauskaite Kazimira Danute Prunskene Vytautas Landsbergis Rolandas Aksas Viktor Uspaskich Valdemar Tomasevski Leonidas Donskis Arturas Zuokas Edgar Savisaar Andrus Ansip
The current website developed by YWSolution Limited

EU battles to reach agreement on budget

Nov 12, 2013
From wire reports, RIGA

European Union officials have reached an agreement on the 2014 budget after tough negotiations on Tuesday, Nov. 12, reports LETA

Under the compromise deal, the budget will include 135.5 billion euros in payments and 142.6 billion euros in commitments.

Negotiations stretched into early Tuesday hours to resolve a split over next year's spending between the bloc's three bodies - the 28 member states, the European Parliament and the executive European Commission.

The austerity-minded governments had wanted to keep payments under 135 billion euros, which was 1 billion euros 1.5 billion euros less than sought by the EU executive and parliament, respectively.

"We have agreed to reinforce the financing of such priority areas as economic growth, jobs, innovation and humanitarian aid," said Algimantas Rimkunas, the deputy finance minister of Lithuania, which currently holds the six-month rotating EU presidency.

"EU agencies dealing with migration, asylum and border control were strengthened, as were European financial supervisory authorities," he said in a statement.

The 2014 budget is more than nine percent lower than the one the previous year: spending is 9.4 percent less while payments are 9.5 percent lower than the budget of 2013.

Ministers and lawmakers are now due to approve the new budget on Nov. 19 and 20.

The budget agreement also paves the way for the European Parliament to adopt next week the EU's long-term trillion-euro budget for 2014-2020.

A vote on the seven-year budget, known as the Multiannual Financial Framework (MFF), was postponed to Nov. 19 because of the row over the 2014 budget.

 MORE NEWS
  • NATO states near Russia need s...
    NATO countries bordering Russia need reassurance that they will be defended by the...
  • VIDEO: Police investigate Latv...
    Latvia's security police say they are investigating videos revealing Latvian c...
  • Open letter urges permanent NA...
    One hundred public figures from the Baltics have urged U.S. President Barack Obama...
  • ’We told you so’- Baltic jitte...
    Nervously eyeing Russian naval maneuvers and military flights near their border...
  • PM: ’Lithuania’s support for U...
    Lithuania's Prime Minister Algirdas Butkevicius claims that ties between Vi...
  • Fazer to close Estonia factory...
    Finnish bakery and confectionery firm Fazer will close its Tallinn factory maki...
  • Riga Apartments for Rent

    Maximus
    © 2014 BALTIC NEWS LTD. All Rights Reserved.