Headlines August 2012
Member States must agree on the next long-term EU budget by the end of this year or risk seriously undermining Europe's efforts to stimulate growth and jobs. This was the stark message from Vice-President Maroš Šefčovič at the informal general affairs council (GAC) hosted by the Cyprus Presidency in Nicosia on Thursday.
Speaking at the start of a lengthy debate on the multi-annual financial framework (the seven-year EU budget from 2014-2020), V-P Šefčovič stressed that a deal by the end of 2012 was, vital. "We need to support growth and investment as part of our response to the economic crisis and an early decision on the MFF would be a powerful expression of our determination to get the EU back on a growth path," he told the ministers and state secretaries responsible for European affairs.