Come here often? Make XFINITY.com your homepage » close

Get instant access to XFINITY.com. Download the XFINITY® One Click Google extension» close

close

Your XFINITY Connect session has timed out due to inactivity. Click here to go back close

EU budget agreement "not there yet:" Hollande

Loading... Share No Thanks

Sun Feb 3, 8:50 PM UTC

PARIS — President Francois Hollande said on Sunday France was keen to agree the European Union's 2014-2020 budget at a summit in Brussels next week, but there was still much work to be done.

The 27-nation bloc failed to agree on its 1 trillion euro ($1.37 trillion) budget at a meeting in November.

"We will do everything to find an agreement at the next summit, but conditions are not there yet," Hollande told reporters, flanked by Italian Prime Minister Mario Monti.

Hollande said there was still time to reach a deal before the summit starts on Thursday.

Monti said he hoped a deal could be found on the basis of a package that European governments discussed late last year.

"I hope that the system that will follow will be fairer," Monti said.

Monti wants a reform of the EU system of rebates, arguing that Italy's contribution to the budget is out of proportion to its real wealth. Some net contributors, such as Britain, have demanded deep reductions in EU spending plans.

German Chancellor Angela Merkel has urged her EU partners on to work together to get a deal. <ID:L5N0B08B1>

Hollande also voiced concern about recent strengthening of the euro against the currencies of major trading partners.

"The markets have welcomed with magnitude, with excess, via the level of the euro, the confidence they place in the countries that make up the (euro) zone," he said.

The euro last week reached its highest level in 14 months against the dollar and in 33 months against the yen.

A strengthening euro would weigh on exports from euro-zone countries, as well as reducing the cost of imports.

($1 = 0.7301 euros)

(Reporting by Elizabeth Pineau; Writing by Elena Berton; Editing by Robin Pomeroy and Jason Webb)

Loading... Share No Thanks

Most Popular News

  • Muslim clerics meet in Iran to counter extremists
    Muslim clerics meet in Iran to counter extremists

    2 Recommendations

    QOM, Iran (AP) — Shiite and Sunni clerics from about 80 countries gathered in Iran's holy city of Qom on Sunday to develop a strategy to combat extremists, including the Islamic State group that has captured large parts of Iraq and Syria.

  • Review: 3 cheap smartphones to consider
    Review: 3 cheap smartphones to consider

    1 Recommendations

    NEW YORK (AP) — The cheapest smartphones don't have all the gizmos of Apple or Samsung models, but I'm impressed by how many features you do get for roughly a third of the price.

  • Egypt willing to send troops to future Palestine

    1 Recommendations

    CAIRO (AP) — Egyptian President Abdel-Fattah el-Sissi said in remarks published Sunday that Egypt is prepared to send troops into a future Palestinian state to assist local police and guarantee Israel's security.

  • Sudan government asks UN Darfur mission to leave
    Sudan government asks UN Darfur mission to leave

    1 Recommendations

    CAIRO (AP) — The joint U.N.-African Union peacekeeping force in Darfur said Sunday that the Sudanese government has asked it to prepare plans to exit the country, amid tension between Khartoum and the mission over an investigation into allegations of mass rape.

Ad Info - Ad Feedback

Loading...