Politics

Supporters holding flags of ruling Congress party leave after attending an election campaign rally by Rahul Gandhi at Hardoi district in Uttar Pradesh January 28, 2012. REUTERS/Adnan Abidi/Files

Weakened Congress wondering if early elections will help

The Congress party is debating holding a general election in November, six months ahead of schedule, senior party leaders said, reflecting an internal discussion over whether to pull the plug on the shaky ruling coalition or have it serve a full term.  Full Article 

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Merkel doubts budget deal possible this week, more talks needed

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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

BRUSSELS | Fri Nov 23, 2012 5:37am IST

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)
Economy
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