EU leaders reach 3% budget reduction dealFebruary 9, 2013 - 10:35 AMT PanARMENIAN.Net - EU leaders have reached an agreement on the budget for 2014-20 after lengthy talks in Brussels, BBC News said. European Council President Herman Van Rompuy announced the deal and said in a statement it was "worth working for". The new budget ceiling amounts to 960bn euros (£812bn; $1.3tn). It is the first time the EU's multi-annual budget has been reduced. UK Prime Minister David Cameron, who had been pressing for cuts, hailed it as a "good deal for Britain". French President Francois Hollande, who had argued against big spending cuts, said it was a "good compromise". German Chancellor Angela Merkel also welcomed the deal, which represents a 3.3% reduction from the previous seven-year budget. Countries such as France and Italy had sought to protect spending, while others pressed for cuts at a time of national austerity. The budget must still be approved by the European Parliament. The four biggest political groups in parliament have said they "cannot accept it as it stands because it is not in the interests of Europe's citizens." Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Titus, Bilirakis lead legislation to sanction Azerbaijani war criminals Representatives Dina Titus (D-NV) and Gus Bilirakis (R-FL) have introduced the bipartisan legislation. Azerbaijan must respect human rights, Scholz tells Aliyev German Chancellor Olaf Scholz has called for greater respect for human rights in Azerbaijan. Armenia: Defense Ministry warns against involving army in political processes The Ministry’s statement came after a video surfaced online, showing soldiers joining the protests in Tavush. Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. |