EU agrees new budget deal

Thursday, 27 Jun 2013, 12:49


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A political deal on the EU's hotly contested seven-year budget has been struck, European Commission President Jose Manuel Barroso has announced

The deal on the 2014-2020 960bn euro budget was reached between member states and European Parliament leaders, he said.

Leaders of the 27 countries gathering for a summit in Brussels are expected to focus on Europe's record unemployment, and youth unemployment especially.

Nearly a quarter of people aged 18 to 25 in the EU have no job, while in Greece and Spain it is more than half.
EU leaders will consider mobilising 6bn euros  earlier than planned to help youth training schemes.
Draft plans have also been agreed on agricultural reform and how to rescue troubled banks.

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