High stakes

Two days of ‘hellish’ talks lie ahead to agree the EU budget, writes Europe correspondent Ann Cahill

THE sum being discussed is close to €1tn. For weeks now, EU countries have been throwing punches, shadow boxing, threatening to destabilise the union, and generally misbehaving while fighting their corner over the sum.

The final figure they will settle on will be the ceiling beyond which the EU cannot spend over the next seven years. Most of the money — 94% — will be recycled back to the member states, but not in the same amounts as they contributed.