A two-day EU summit ended on Friday with no agreement on the 2014-2020 budget amid bitter divisions over spending cuts. British Prime Minister David Cameron led calls for slashes to the budget while fighting to keep Britain's EU rebate.
A European Union summit wound up Friday with "no agreement" sealed for the bloc's next long-term budget, officials from several EU delegations said.
"There is no agreement," one official said.
With the 27 heads of state and government bitterly divided over spending policy, there had been little hope of a deal on a trillion-euro budget for 2014-20 during the two-day summit.
British Prime Minister David Cameron headed a group of austerity-driven nations demanding huge cuts in the next seven-year budget to match belt-tightening measures at home.
Talks to settle the bitter disputes that surfaced at the two-day summit will resume in January, Belgium's Foreign Minister Didier Reynders said on his Twitter account.
An EU diplomat said the main obstacle at the summit was Cameron's demand for reductions in the planned [budget,] adding that "the most virulent" countries by his side were Sweden and the Netherlands.
Cameron had vowed to bring down the budget from a proposed 1.047 trillion euros ($1.347 trillion) to 886 billion euros.
Date created : 2012-11-23