European Commission Budget: ‘EU runs out of money’


On October 22, the European Parliament agreed to present an adjusted budget to avoid default on EU commitments. However, the daily also quotes Bulgarian MEP Ivaylo Kalfin who warns that “from next year, the threat to EU payments could have a considerable impact on citizens and local governments.”

The socialist parliamentarian points out that if the 2014 budget is subject “to cuts of €8bn,” there will “serious consequences for research and innovation, youth mobility and new technologies”.

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