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France's Hollande sees budget deal unlikely on Friday
November 23, 2012 / 1:11 AM / in 5 years

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.

France's President Francois Hollande leaves the European Union leaders summit discussing the European Union's long-term budget in Brussels November 23, 2012. REUTERS/Eric Vidal

“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

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