Monday, 12 November 2012

EU yet to Agree on Budget, but Agrees on €670 million "Solidarity Fund" for Italy

The Council of the EU reports,
The Council and the European Parliament, meeting within the Conciliation Committee, could not yet reach agreement on the 2013 EU budget and other related items.                  
The Council and the European Parliament, meeting within the Conciliation Committee, could not yet reach agreement on the 2013 EU budget [€132.7 billion proposal - see here] and other related items.                 
While the Council and the European Parliament shared the same priority for focusing the EU 2013 budget on growth and jobs enhancing measures the Council wished to ensure that the current budgetary constraints of all member states concerned are also taken into account. Divergent views persisted notably on the extent by which the 2012 EU budget needs to be increased in order to bridge the gap between the payments jointly agreed last year and actual implementation (draft amending budget no 6 for 2012) and on the question whether the Commission proposal exploited all possibilities for redeployment.
However, the Conciliation Committee reached agreement on the mobilisation, as soon as possible, of the EU Solidarity Fund in favour of Italy for an amount of EUR 670 million as proposed by the Commission in draft amending budget no 5 for 2012, which will be finalised in the overall agreement.
Central planning takes time...
 
 

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