EU budget hangs in balance as negotiations continue

EUROPE’S €105 billion a year budget hung in the balance last night as EU leaders settled in for a long night of negotiations.

Taoiseach Bertie Ahern offered himself as an honest broker in the marathon round of talks aimed at securing a deal by this evening.

The summit is expected to agree to a complete overhaul of the controversial Services Directive and put a brake on future enlargements of the union.