European Council President Herman Van Rompuy said Friday that a European Union budget deal was within reach for early next year after a two-day summit collapsed without agreement.Saturday, 24 November, 2012, 1:17am
Talks on the European Union's trillion-euro budget ended in deadlock yesterday as leaders of the bloc's 27 member states failed to overcome seemingly irreconcilable differences on how to reduce spending.
"There is no agreement," said one official at the summit.24 Nov 2012 - 4:48am
Blighted by recession and tottering on the edge of a sovereign bailout, Spain is about to pay the price of joining the club of richest nations in the European Union.
For the first time, Madrid may have to pay more into the bloc than it receives, a dramatic change from 10 years ago when it was the biggest recipient.
It is an unfortunate paradox at a time of deep crisis.21 Nov 2012 - 11:11am