Merkel doubts budget deal possible this week, more talks needed

BRUSSELS Fri Nov 23, 2012 5:37am IST

Britain's Prime Minister David Cameron (L) talks with Germany's Chancellor Angela Merkel (C) and Netherlands' Prime Minister Mark Rutte (R) during a summit of European Union leaders discussing the European Union's long-term budget in Brussels November 22, 2012. REUTERS/Yves Herman

Britain's Prime Minister David Cameron (L) talks with Germany's Chancellor Angela Merkel (C) and Netherlands' Prime Minister Mark Rutte (R) during a summit of European Union leaders discussing the European Union's long-term budget in Brussels November 22, 2012.

Credit: Reuters/Yves Herman

Related Topics

BRUSSELS (Reuters) - German Chancellor Angela Merkel said she doubted that an agreement on the European Union's seven-year budget could be reached this week and that a further round of negotiations would most likely be required at a later date.

"I believe that the positions are quite far apart, in certain respects," Merkel told journalists after the conclusion of the first day of summit that will resume at midday on Friday and could run into the weekend. Germany is the biggest net contributor to EU coffers.

"I believe that we will move forward a little tomorrow but I have my doubts that we will achieve a result," said Merkel. "There is a high likelihood of a second stage."

Merkel said ahead of the summit that if it wasn't possible to strike a deal on the nearly 1 trillion euro spending framework for 2014-2020, then the next best opportunity would probably be in early 2013.

(Reporting By John O'Donnell, editing by Luke Baker)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Press Event

Press Event

Modi takes tea, but no questions, in first press event as PM.  Full Article 

School Shooting

School Shooting

Two killed, four wounded in Washington state school shooting.  Full Article 

Sundar Pichai Elevated

Sundar Pichai Elevated

Google's Pichai to oversee major products and services.  Full Article 

Need For Reforms

Need For Reforms

Euro zone risks "relapse into recession" without structural reforms - Draghi.  Full Article 

Diwali Sales

Diwali Sales

Gold sales jump about 20 pct for Diwali - trade body  Full Article 

World Bank Rival

World Bank Rival

Three major nations absent as China launches W.Bank rival in Asia  Full Article 

Wal-Mart India

Wal-Mart India

Murali Lanka appointed as Wal-Mart India operations chief  Full Article 

Health Of Lenders

Health Of Lenders

25 European banks set to fail health checks - sources.  Full Article 

India Insight

India Insight

Kalki Koechlin on her role as a disabled girl in “Margarita, With a Straw”  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage