Date :Tuesday, November 18th, 2014 | Time : 22:23 |ID: 14211 | Print

European Parliament failed to agree on 2015 budget

SHAFAQNA (Shia International News Association)- The European Union’s 2015 budget talks have collapsed as the European Parliament (EP) and member states fail to reach an agreement, Press TV reports.

The deadline for EU governments and lawmakers to reach consensus over next year’s budget passed on Monday.

“We haven’t won the race against the clock today,” said Italian State Secretary for Economic Affairs Enrico Zanetti, whose country holds the EU’s rotating presidency.

Most of the governments reportedly want to limit the EU spending in 2015 to 140 billion euros, just 3.3 percent more than the current year. The EP, however, is pushing for an eight-percent increase.

“We know that there are several issues that have prevented an agreement yesterday. But we also know that we are looking forward to the next days when we will be proposing a new draft for the 2015 budget,” said European Commission spokesperson Jakub Adamowicz.

Members of the EP (MEPs) have expressed their outrage over the budget collapse and to the failure to reach an agreement on the outstanding bills that the EU has not yet covered.

“As a mathematician who teaches the students of the economic departments of Latvian universities for 15 years, I can estimate what has taken place now and is a systemic crisis and the solution for such a kind of crisis must be revolutionary,” Latvian MEP Tatjana Zdanoka told the Press TV correspondent in Brussels.

If there is no agreement on the budget by the start of 2015, the EU will be restricted to its current budget until a new deal is struck.




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