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Dec 6, 2010

EU budget rift may pose new headache for EU summit

BRUSSELS (Reuters) – A row over the European Union’s 2011 budget may drag on until an EU leaders’ summit on December 16-17, complicating a meeting that was supposed to focus on resolving the debt crisis, diplomats said.

The threat of another divisive issue crowding the summit agenda emerged after EU lawmakers and governments failed again on Monday to reach a deal on next year’s budget. They are divided over how much the budget should be increased, and about the future role the parliament should play in budget-making.

Nov 26, 2010

EU Commission proposes new 2011 budget draft

BRUSSELS (Reuters) – The European Union’s executive arm proposed a new 2011 draft budget on Friday to try to break a deadlock between the bloc’s parliament and governments over spending plans.

Negotiations between the European Parliament and the EU’s 27 governments on the budget, worth 123 billion euros (104 billion pounds) in 2010, collapsed this month, threatening to throw the bloc’s financial planning into disarray.

Nov 16, 2010

Eurogroup tells Greece to cut spending further

BRUSSELS, Nov 16 (Reuters) – Euro zone finance ministers
told Greece on Tuesday to cut its spending more to meet budget
deficit reduction targets agreed with international lenders as
part of a bailout programme.

The European Union statistics office revised upwards this
week the Greek budget deficit for 2009 to more than 15 percent
of gross domestic product from 13.6 percent, which raised
doubts over the country’s ability to cut its shortfall to an
agreed 8.1 percent this year.

Nov 16, 2010

EU negotiations on 2011 budget collapse

BRUSSELS, Nov 16 (Reuters) – Negotiations between European
Union lawmakers and governments over the EU’s 2011 budget hit a
deadlock on Monday, threatening to throw EU financial planning
into chaos and boding ill for the bloc’s ability to reach
deals.

It is the first such setback for the EU since 1988. It
means that next year’s spending will be the same as in 2010,
inflexible and disbursed in 12 equal installments while the
EU’s fledgling diplomatic service may not receive funding.

Nov 11, 2010

EU budget talks fail, last-ditch meeting set for Monday

BRUSSELS (Reuters) – Talks between European Union lawmakers and the bloc’s governments over the size of the EU’s 2011 budget collapsed on Thursday, threatening to throw EU finances into disarray.

The EU budget is a highly sensitive issue this year in many of the EU’s 27 member states, especially in Britain, because many governments are slashing spending at home and are under pressure to reject big increases in EU expenditure.

Oct 29, 2010

Summit opens battle over EU’s long-term budget

BRUSSELS, Oct 29 (Reuters) – Wrangling over the European
Union’s long-term spending plan for 2014-2020 kicked off at its
summit on Friday, months earlier than anticipated, with Britain
securing considerable support for a lean budget.

Fighting among the EU’s 27 governments over the long-term
budget, which could be worth nearly 1 trillion euros (dollars)
could typically be expected to start next June, after a planned
publication of proposals by the executive European Commission.

Oct 27, 2010

Pension reformers to fight on for EU budget leeway

BRUSSELS (Reuters) – Led by Poland, European Union countries that have overhauled their pension systems may press at an EU summit this week for leeway on their budget deficits and debt that would reflect full costs of the reform, diplomats say.

Nine countries, including Sweden and the Czech Republic, demanded in August to be allowed to write off the full cost of pension reform from their deficit and public debt, which would help them avoid EU disciplinary action.

Oct 18, 2010

EU finmins near deal on tougher budget rules

LUXEMBOURG, Oct 18 (Reuters) – European Union finance
ministers agreed on Monday that sanctions for breaching EU
deficit and debt limits should be almost automatic, but were
still discussing how fast they should kick in, EU sources said.

EU finance ministers are in talks in Luxembourg to complete
an overhaul of EU budget rules, the Stability and Growth Pact,
and agree on a report for EU leaders on how to make the rules
tougher, to prevent a new sovereign debt crisis.

Oct 18, 2010

EU seen facing “moment of truth” on budget reform

LUXEMBOURG (Reuters) – The European Union’s monetary affairs chief urged member states to agree on tough budget reforms on Monday after some countries said enthusiasm for far-reaching change was waning.

He made his comments before euro zone finance ministers met in Luxembourg to complete an overhaul of EU budget rules and agree on a report for EU leaders on how to make the rules tougher, to prevent a new sovereign debt crisis.

Oct 18, 2010

EU faces moment of truth on budget reform -Rehn

LUXEMBOURG, Oct 18 (Reuters) – The European Union’s monetary
affairs chief urged member states to agree on tough budget
reforms on Monday after some countries said enthusiasm for
far-reaching change was waning.

He made his comments before euro zone finance ministers met
in Luxembourg to complete an overhaul of EU budget rules and
agree on a report for EU leaders on how to make the rules
tougher, to prevent a new sovereign debt crisis.

    • About Marcin

      "Based in Brussels, I cover macroeconomy, EU budget, issues related to central and eastern Europe. I previously worked in Warsaw as deputy bureau chief"
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