"Today the European Parliament has adopted the 2014 budget for the European Union.
This is the first budget of the new financial period (2014-2020), a budget and a seven year financial framework born in times of crisis. Both reflect the current mood in Europe: the first shoots of economic recovery are showing but it is too early to talk about the crisis in the past tense.
Europe's 2014 budget reflects this very moment. It is 6% smaller than last year's budget, however compared to the Council's position it strengthens those areas that benefit Europe's future economic prospect: the Youth Employment Initiative is a new tool that will benefit many young Europeans who seek a job, it also includes programmes that help small and medium enterprises and support Europe's researchers.
The 2014 budget also takes into account recent events that demonstrate the need for stronger action at European level: following the Lampedusa tragedy, budgetary lines on migration and border controls are beefed up, and humanitarian aid for Syrian civilians, survivors of the typhoon in the Philippines or others in future, increases.
Yes, in future the EU will do far more than in the past with far less. The 2014 budget is the living proof of it."