EU Budget Agreed

bsiFollowing their meeting on Thursday 27th June at the Commission headquarters, President Barroso, President Schulz and Irish Taoiseach Kenny announced a political agreement on the European Union’s future budget 2014-2020.

President Barroso underlined that this was possible because all sides have gone the extra mile and said: “This is a good deal for Europe, for European citizens and for the European economy.”

He pointed to the main elements of the agreement: more flexibility on both payments and commitments, frontloading of expenditure linked to youth employment, research, education and SMEs as well as the possibility to increase aid for the most deprived people. He also said that the deal confirms the agreement reached for the 2013 amending budget.

“This is a good deal for Europe.”

He also pointed out that the Compact for Growth discussed at the European Council that same day cannot exist without a fund for growth and concluded: “Our fund for growth is the European budget”. He thanked the representatives of the other institutions for their true European spirit.

The deal will now be submitted to the European Parliament and the Council for formal endorsement.


You may have an interest in also reading…

Stealth at the Helm: The Manifest Destiny of Angela Merkel

As the Greek debt crisis inches to its climax, the euro’s guardians soften their tone of voice; not quite so

DEG: Turkey – Growth Market and Bridge to the East

Turkey was long considered especially promising in the group of emerging-market countries. However, political developments and Turkey’s susceptibility to recent

Zurich Insurance Company: Insurance in Latin America – Economic Growth Brings New Opportunities

To continue its success story, Latin America will need to address a number of socio-economic challenges. Insurance has the potential