EU remains deadlocked over budget

FOREIGN Ministers failed to make progress on agreeing a budget to run the EU for the next six years, despite much mud-slinging at a meeting in Luxembourg yesterday.

The issue of how the union raises the close to €1,000 billion needed for the years 2007-2013 will now be left to the heads of governments to decide.

For the Irish, it’s mostly a matter of holding onto the €25bn to subsidise farmers in 25 states as agreed in 2002, but adding an additional €8bn to pay for Romania and Bulgaria when they join in 2007.