Published January 13, 2015
Many European Union leaders will push for a tough austerity budget at their summit this week but the EU parliament insists it is ready to reject a deal which curtails common spending on growth and employment.
On the eve of Thursday's summit, EU President Herman Van Rompuy said that "for the first time ever - there will be a real terms cut compared to the current budget."
Britain is leading several wealthy northern member states in calling for greater austerity in the 2014-2020 EU budget, which will amount to about €1 trillion ($1.35 trillion). On the other hand, poorer eastern and southern countries in the 27-nation bloc want to ensure continued EU financial support.
Parliamentary leaders warned they would reject any plan that undermines the role of the EU.
https://www.foxnews.com/world/eu-leaders-to-haggle-over-lower-budget-setting-up-fight-with-parliament-to-get-approval