UK deal over €2bn EU bill

Fundamental rules on how member states’ pay into the EU budget are being changed after Britain objected to a €2bn bill they received for money due over the past 12 years.

They will now be able to pay it in instalments over the next nine months rather than paying the full amount by December 1, as will the other eight countries that owe money and they will not incur interest on the outstanding sums.

Finance Minister Michael Noonan said €6.5m Ireland owes would be paid on time.