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…

KPMG: India – Banking on New Banks

India’s financial sector has tons of questions to ask since the Reserve Bank of India (RBI) spelled out the new

Why an Expo 2020 Win Will Not Determine the Strength of Dubai’s Property Market

By Mat Green, Head of Research & Consultancy UAE, CBRE Middle East Property markets around the world have proven to

The Changing Face of Foreign Direct Investment (FDI): A Greater Focus on the Emerging Markets?

The theme of this year’s Annual Investment Meeting (AIM), which will take place in Dubai on the 8th – 10th