EU approves first ever spending cut
Source: cbc.ca
The European Union’s parliament has finally approved the first spending cut in the history of the 28-nation group.
Over two years of haggling finally ended when the EU legislature approved the budget, which will fall to 960 billion euros ($1.3 trillion US budget) for the seven years between 2014 and 2020.
The cut had been sought by several EU countries which wanted to see austerity at the EU level at a time when many were pursuing cutbacks at home.
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Read the full article at: cbc.ca
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