France's Hollande sees budget deal unlikely on Friday
BRUSSELS (Reuters) - French President Francois Hollande said it looked unlikely that European Union negotiators would reach an agreement on Friday on the bloc's nearly 1 trillion euro budget for the next seven years, although he said a delayed deal would not be serious.
"Everyone agrees this is going to take time," Hollande told reporters. Asked whether EU leaders could fail to resolve their differences on Friday he said: "That's the most likely outcome."
The EU is expected to convene a further summit if leaders continue to disagree over spending levels at the end of the two-day meeting. The meeting was suspended shortly after midnight on Thursday so that EU leaders can examine a revised budget plan.
The summit will reconvene at midday on Friday.
(Reporting by Emmanuel Jarry; Writing by Catherine Bremer)
- Tweet this
- Share this
- Digg this
A pick-up in retail inflation to its fastest pace on record will likely force Reserve Bank of India chief Raghuram Rajan to raise interest rates for a third time on Wednesday, crimping growth prospects for an already fragile economy. Full Article
Asia-Pacific M&A volume falls for third consecutive year, deal size grows. Full Article