European leaders today reached an important agreement on a balanced and growth-oriented common budget for the European Union.
Noting that this compromise shows a sense of collective responsibility from Europe’s leaders, European Council President Herman Van Rompuy highlighted that the 2014-2020 budget is future-oriented, realistic, and driven by pressing concerns.
“I’m satisfied that all along this negotiation we kept the bigger picture in mind. Even in such difficult economic conditions, we have managed to keep essential factors of continuity and of growth.”
European Commission President José Manuel Barroso welcomed leaders’ endorsement of an ambitious trade agenda, noting that “the Commission will push ahead to realize the full potential of an integrated transatlantic free trade agreement.” He said that widening the trade agenda with the United States and Japan would be transformative not only for the European economy, but for the international economy.