The Straits Times
Published on Nov 19, 2012

EU mulling budget without Britain: FT


LONDON (AFP) - European Union officials are formulating long-term budget plans that exclude Britain due to Prime Minister David Cameron's insistence he will veto any increases in real-term spending, the Financial Times reported on Monday.

Britain is demanding a freeze to EU spending for the period 2014-20, the details of which are supposed to be thrashed out at a two-day summit of EU leaders in Brussels beginning on Thursday.

But EU officials and diplomats are concerned Britain's position will render a 27-nation agreement impossible.

"Because of the British stance people are looking, both in national capitals and in Brussels, for a solution at 26," an official told the FT. "It's being looked at from a financial and legal point of view."