European Council President Herman Van Rompuy has chosen not to present a new budget compromise to EU leaders at a summit after sharp splits emerged between key nations, EU diplomats have told Reuters.
"There will be no new proposals [from Van Rompuy]," one source said on condition of anonymity. The impasse could mean that no new proposal is presented at all on the first night of the two-day summit, a second source said.
Van Rompuy had been expected to present a revised budget plan to leaders this afternoon, but that was delayed by more than five hours as meetings among EU leaders showed deep differences in their positions.
The EU budget deal is victory for David Cameron, but perhaps more accurately a victory for northern Europe over the south.
The EU president will unveil 'exciting' new budget proposals, but getting northern and southern bloc countries to agree will be tricky.