Merkel says 2013 EU budget summit may be needed
BERLIN (AFP) - German Chancellor Angela Merkel said on Wednesday the European Union would need to hold a new summit on its budget early next year should the bloc's leaders fail to agree this week on a 2014-2020 spending plan.
"I don't know if we will have a definitive deal tomorrow or the next day. We want that," Dr Merkel told lawmakers during a debate on Germany's own budget. "If necessary, we will have to meet again at the beginning of next year."
The EU is locked in bitter wrangling over its contested 1 trillion-euro (S$1.56 trillino) budget for 2014-2020.
EU president Herman Van Rompuy said on Tuesday he would draft a fresh proposal with "a revised version" of controversial cuts to be considered when leaders begin the two-day talks in Brussels late on Thursday.