New EU budget proposal cuts across red lines

The EU's next multi-year budget framework for the period 2014-2020 should be cut by at least €50bn), said the Cyprus EU Presidency on the 29 October 2012, chairing the negotiations.

The suggestion was rejected by the European Commission, which drew up the original plan for the 2014-2020 budget. The Commission was calling for a 5% rise compared with the 2007-2013 budget.

EU leaders were due to hold a budget summit on 22-23 November 2012.

ESO: Background information: Website: Multiannual Financial Framework 2014-2020 http://www.europeansources.info/record/multiannual-financial-framework-2014-2020/

ESO: Background information: Brussels wants regions to make better use of EU funds http://www.europeansources.info/record/brussels-wants-regions-to-make-better-use-of-eu-funds/

Council of the European Union: Cyprus: EU Presidency: Multiannual financial framework, 2014 - 2020. Negotiating box, October 2012 http://euobserver.com/media/src/4aa8480cb165101c1c33cb68952cee13.pdf

Cyprus: EU Presidency: Presidency Issues Paper: Multiannual Financial Framework 2014-2020. Informal Meeting of Ministers and Secretaries of State for European Affairs Nicosia, 30 August 2012 http://www.cy2012.eu/index.php/en/file/t4OXQzwQKPz2nxXo9+AUZw==

BBC News, 30.10.12: EU budget rise: Lead negotiator Cyprus wants 50bn-euro cut http://www.bbc.co.uk/news/world-europe-20136322

European Commission: RAPID: MEMO/12/817: Statement from the European Commission on the negotiating box on the next Multiannual Financial Framework presented by the Cypriot Council Presidency http://europa.eu/rapid/press-release_MEMO-12-817_en.pdf

Politiken, 25.10.12: DK rebate or DK EU budget veto http://politiken.dk/newsinenglish/ECE1792635/dk-rebate-or-dk-eu-budget-veto/

EUObserver, 31.10.12: Sweden emerges as top EU budget hawk http://euobserver.com/economic/118046

European Parliament: Press Release, 30.10.12: EP: Presidency MFF proposal puts EU policies in jeopardy http://www.europarl.europa.eu/news/en/pressroom/content/20121030IPR54802/

European Voice, Vol.18, No.38, 25.10.12: Clock starts for EU budget showdown http://www.europeanvoice.com/article/imported/clock-starts-for-eu-budget-showdown/75472.aspx

Cyprus: EU Presidency: Press Release, 30.10.12: Cyprus Presidency presents revised Negotiating Box for the Multiannual Financial Framework http://www.cy2012.eu/index.php/en/news-categories/areas/general-affairs/press-release-cyprus-presidency-presents-revised-negotiating-box-for-the-multiannual-financial-frame

EurActiv, 31.10.12: Cyprus' EU budget deal rejected by Commission, Parliament http://www.euractiv.com/specialreport-budget/cyprus-presidency-budget-proposa-news-515784

Politiken, 06.11.12: EU: If Britain goes, it goes alone http://politiken.dk/newsinenglish/ECE1804159/eu-if-britain-goes-it-goes-alone/

EUObserver, 05.11.12: What's at stake for Europe as America votes? http://euobserver.com/political/118083

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