A LOOK BEHIND THE NEWS / (eu) eu/european council

Agreement on Financial Perspectives 2007-2013 providing both solidarity with new Member States and meeting interests of excess net contributors - British rebate anomaly to be gradually dissolved

Brussels, 18/12/2005 (Agence Europe) - In the small hours of 17 December, the European Council managed to reach agreement on the Financial Perspectives for 2007-2013. The overall budget was set at EUR 862.363 bn (1.045% of EU GNI) with gradual phasing out of the British rebate on all enlargement expenditure (apart from the Common Agricultural Policy) by 2013. There is also a commitment to a 2008 review of EU spending for the next budget (2014-2020).

The European Council also formalised the...