PARIS (AP) ? Negotiations over next year's European Union budget have collapsed after a dispute between member states and the European Commission over a shortfall in the 2012 budget. The talks, which essentially ended before they began, could be a sign of trouble ahead for longer-term EU budget issues.
At issue was a ?8.9 billion ($11.3 billion) shortfall for 2012, according to the European Commission, which asked the states to cover the sum. Several states imposing spending cuts at home questioned the amount.
In a statement on his website, the European Parliament lead negotiator Alain Lamassoure said the commission must submit a new proposal before talks, which face a Tuesday deadline, could continue.
The only agreement Friday was for ?670 million in aid to Italian earthquake victims ? but not how to fund it.
Source: http://news.yahoo.com/eu-annual-budget-talks-collapse-worrying-sign-121622794.html
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