EU budget talks resume Friday; positions too far apart, Merkel says

FXstreet.com (Barcelona) - The EU leaders meeting taking place in Brussels concluded around 1am local time after 14+ hours of preliminary and bilateral talks, including about 1 hour of plenary debate on the €940bn EU budget proposal.

The meeting is due to resume Friday at midday Brussels time. “Time to sleep. It's a marathon.” - EU sources told to reporters, says Fabrizio Goria, correspondent from Italy at Eurointelligence, on his twitter account.

German Chancellor Angela Merckel said after the meeting she doubts an agreement will be reached on EU budget this week, and will likely need another few sessions of negotiations. She added positions are too far apart for now.

Meanwhile, according to an official statement by the European Council, Yves Mersch has been appointed to the executive board of the European Central Bank for a term of eight years as from 15 December. He will succeed José Manuel González-Páramo, who completed his term of office on 31 May.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

RELATED TOPICS