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FEB 08, 2013 - The Guardian

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EU on brink of historic budget cut after all-nighter in Brussels

Both sides poised to claim victory as tortuous overnight negotiations look like delivering €34.4bn reduction in spendingEuropean leaders were inching towards a deal in the early hours of Friday morning that would see the first cut in the EU's budget in its 56-year history.David Cameron, who had demanded a real terms freeze in the near €1tn budget, was planning to claim victory after the European council president proposed a €34.4bn cut in the next seven-year EU budget.Herman Van Rompuy finally tabled his budget proposals in Brussels at 6am after a night of haggling at the EU summit that was ... Read More

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