Thursday, Aug 28, 2014Thursday, Aug 28, 2014
News
 

EU in fresh trouble as budget summit faces collapse

Published on Nov 18, 2012 11:48 AM
 

BRUSSELS (AFP) - The European Union looks set for fresh trouble this week as an extraordinary summit called to agree a long-term trillion-euro budget heads for an ugly showdown, possibly even failure.

Already weakened by three years of economic crisis, the 27-nation bloc of half a billion people faces new trauma at the two-day summit starting Thursday after weeks of talks that have exposed stark divisions between pro- and anti-austerity nations, as well as between the haves and have-nots.

"It's a lose-lose summit," said a senior EU diplomat. "Absolutely no one will leave this summit content if by chance we reach a solution."

"We don't exclude a breakdown," another diplomat told the Agence France-Presse on condition of anonymity.

 
If you are not a subscriber, you can get instant, unlimited access here