European Union leaders failed to reach agreement on Friday on the bloc's 2014-2020 budget, with European Council President Herman Van Rompuy announcing that talks will resume early next year.
The talks were called off in less than two days, as most countries rejected deeper spending cuts demanded by Britain and its allies.
European Commission chief Jose Manuel Barroso said the talks had failed due to "important differences of opinion - especially in overall size of the budget"....
Define a Monetary Policy and its relationship to Dollars, Euros, Gold and Cash Commodities.
Next define the Chinese Trade Policies.
Maybe now you can sit down a prepare a BUDGET in REALITY.
But do not forget, do not step on SOVERIGN RIGHTS and do not forget that the Balkan Bloc is in the future and must be reckoned.!
The main net contributors to the EU budget are the members whose economies are hugely affected by the global turndown and the countries who, in the main, are requesting their own peoples make large sacrifices to bring their own budgets into control, hardly surprising then that they (UK included) want to see a similar reigning in of the EU spending.
Not surprising also is the stance of the poorer (often ex communist countries) who will benefit most from an increase in EU spending, they want want an increase. The two need not be apposed to each other as suggested though. The EU could agree a "mark time" budget (no increase) for the next period but, within that framework, could increase spending in certain countries. This may mean sacrificing other goals but that would only be for the period of this budget period, all being well, in 7 years time, we may all be back on track. If we are not then the EU make be in its final days.
Peter Great Point!
I remember the old speech of Martin Luther King, "I have a Dream", I dream that the Balkans - Eurasia with Russia open a Economic Zone Link with Turkey bridging Russia, Bulgaria and Turkey as a Trade Zone for the development of Jobs , Technology and Industry.
I feel we will need Israel to contribute in Food Security and Irrigation System Manangement expand trade for the Middle East in Agricultural production using the Arab Development Bank, USAID, EU Funds and the World Bank.
Africa is not meeting Food requirements as seen in Malawi, close to two million people with food shortages
China should be a partner with well defined economic policy.
50% more Chinese Tourists in Bulgaria
Potentially Defective Aluminum was used by All Car Manufacturers in Japan