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EU leaders to clash over post-Brexit budget

Europe Materials 23 February 2018 14:58 (UTC +04:00)
European Union leaders will lay down the first markers on Friday on the size and aims of the bloc’s next long-term budget
EU leaders to clash over post-Brexit budget

European Union leaders will lay down the first markers on Friday on the size and aims of the bloc’s next long-term budget, as a large hole in its finances begins to take shape with next year’s departure of one of its main net contributors, Reuters reports.

All EU states except Britain are to say in a summit debate whether they agree to increase the 2021-2027 budget to pay for new common policies on security, defense and migration, at a time when Brexit will slash revenues to the common pot by 10-12 billion euros ($12.3-14.8 billion) a year.

“We need a new start for Europe,” German Chancellor Angela Merkel said on Thursday, adding the budget discussion could lead to some major changes.

“The debate about the future financial framework is also a chance to look at the finances of the EU as a whole,” she said.

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