EU's Van Rompuy adjourns EU budget summit

BRUSSELS Thu Nov 22, 2012 11:27pm GMT

European Council President Herman Van Rompuy arrives at an European Union leaders summit discussing the European Union's long-term budget in Brussels November 22, 2012. REUTERS/Yves Herman

European Council President Herman Van Rompuy arrives at an European Union leaders summit discussing the European Union's long-term budget in Brussels November 22, 2012.

Credit: Reuters/Yves Herman

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BRUSSELS (Reuters) - European Council President Herman Van Rompuy adjourned a summit of EU leaders to discuss a new seven-year budget early on Friday to allow time for heads of state and government to study a revised set of proposals, officials said.

The officials said EU leaders would gather again at midday (11 a.m. British Time) on Friday to open round-the-table negotiations over the long-term budget, a framework of around 1 trillion euros in spending for the years 2014-2020.

Earlier, Van Rompuy, who chairs EU summits, presented a revised budget plan, keeping overall cuts to around 80 billion euros but trimming the amount he had originally cut from spending on agriculture and funds for poorer EU states.

EU leaders will now study those revised plans overnight and return for negotiations, officials said.

(Reporting by Jan Strupczewski and Charlie Dunmore, Writing by Luke Baker)

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DavidHill wrote:
Allocating further funds to the EU’s financial budget is like throwing away the wealth of the people again and just like what happened with the banks by propping them up, thus indebting the people of the EU to the tune of trillions of dollars for many decades to come and with that, hard times and declining standards of living. Now we the people are asked again to prop up the EU project and where the political elite are indebting the people to more decades of misery. The problem is that those that run the EU and the Commission cannot lose out, just like the bankers as they get bailed out no matter what. Indeed these people live in a parallel universe remote from reality and where they never want for anything. This even in the knowledge that 17 out of the 27 member states are in recession and where economic conditions remain dismal to say the very least. Unfortunately even Merkel knows that things will not get any better in the long-term and where in 2009 she was a lone voice in stating “Let’s not expect a miracle, because not even the boldest political decision will turn the European economy back on the path of growth”. At the time no-other EU leader agreed with her but where now how right she really was. The EU is a complete folly where it will continue to indebt our people in perpetuity and basically in many ways eventually enslave all our future generations to come to others. In this respect it will be the mother of all economic catastrophes. Time to say no more, cut our losses and start to think as intelligent people and get out of this bottomless pit of no return. For if intelligence were used, the EU concept would be seen as dead if we equate it to people benefits and new wealth creation. Unfortunately our political classes will continue the gravy train by playing the fiddle throughout whilst Europe burns. Indeed the EU is just like all empires as they decline and where those inside cannot see what is happening. In this respect the EU has all the hallmarks of a declining empire and the sooner we see this truism the better it will be for all concerned.

Dr. David Hill
Chief Executive
World Innovation Foundation
Huddersfield, United Kingdom – Bern, Switzerland – Arlington, United States of America

Nov 23, 2012 6:48pm GMT  --  Report as abuse
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