EU leaders are edging closer to a final agreement on a budget deal this morning after all-night talks in Brussels. David Cameron wants a either a freeze, or cut in European spending for the next seven years.
- The opening bid amounted to a budget proposal of 913 billion euros, or £778 billion for 2014-2020
- Twelve hours of discussions produced a new figure early this morning of an estimated 908 billion euros, or £773 billion
- Yesterday UK government sources insisted David Cameron wanted to see "tens of billions" of cuts on the opening bid
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.