SHAFAQNA (Shia International News Association)- Finance ministers of the European Union have failed to agree on the bloc’s budget for 2015 as a deadline to decide the amount draws near.
On Friday, EU finance ministers met to discuss the proposed budget for the next year, but they failed to reach a deal on the amount ahead of the 17 November deadline.
The EU officials were supposed to finalize the positions of their governments on the 2015 budget so that negotiations with the European Parliament (EP) could start on Friday.
The talks with the European Parliament were, however, postponed to Monday as the EU states remained divided over the proposed amount.
The budget, which is provided by the 28 members of the EU, will be redistributed among the member states for different purposes based on EP decisions.
Most of the governments reportedly want to limit 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.
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.