British Prime Minister David Cameron said on Friday that failure to resolve a dispute over a European Union budget surcharge of 2.1 billion euros ($2.60 billion) would cause "a major problem," Reuters reports.

EU finance ministers told Britain on Friday, Nov 7, that the only way to end the row over a surprise budget bill to Brussels is to pay in interest-free installments, officials said, but Britain's finance minister insisted the bill was "unacceptable".

Speaking in Helsinki, Cameron suggested the mooted installment plan would not satisfy him, saying he still had a problem with the size of the bill and when it should be paid.