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Francois Hollande foresees no unity on EU finances

Business Materials 4 February 2013 02:38 (UTC +04:00)

French President Francois Hollande foresees no agreement on the European Union's budget for the coming years in negotiations due to take place at an EU summit next week, DPA reported.

The talks are very difficult because in Hollande's view the appreciation for Europe must be based more on solidarity an growth than on national interests. Hollande spoke Sunday after meeting with Italian Prime Minister Mario Monti.

At the same time Hollande called the notion that every country follows its interests "very legitimate." He hopes for agreement and a more equitable system of EU financing.

Monti spoke in favour of financing that in light of the economic situation would be suitable for each country.

EU heads of government are due to meet in Brussels on Thursday and Friday to deliberate the 2014-20 budget. A summit in November failed to produce an agreement.

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