On Thursday 22 November, leaders of European governments will embark on discussions to conclude the next EU budget. More than a trillion euros will be at stake in the talks which are taking place against a backdrop of demands for rebates made by certain countries and proposals to increase the overall envelope made by others.
Billion euro poker for EU budget – Kleine Zeitung
EU officials have begun work on a plan to create a long-term budget without the UK in a move that reflects mounting frustration that Britain’s demand for a spending freeze cannot be reconciled with the rest of the bloc. This November 22 and 23, the heads of government of the EU27 will try to reach agreement on the 2014-2020 EU budget.
EU looks to bar UK from talks on budget – Financial Times
With a few days left to run before the European Council summit, the French President says he wants "an agreement" but one that will preserve the "cohesion policies" and "the common agricultural policy" (CAP) of which France is one of the main beneficiaries.
Hollande aims to save an EU budget for growth – La Tribune
Well established economists and IMF chief Christine Lagarde consider that the policy pursued by Angela Merkel is expensive and globally ineffective, and are calling on Germany to change course. In particular, they are demanding a fresh debt write-down for Greece. According to the Dusseldorf daily, Merkel remains opposed to such a measure which would undermine her position in 2013 general elections and cost the German taxpayer 23 billion euros.
The policy of expensive steps – Handelsblatt
The Spanish Mortgage Association, which represents Spain’s main banks and building societies, rejects “impulsive changes” to the law on mortgages. In the wake of a decree adopted on 15 November, borrowers who are unable to reimburse their property loans will not be evicted from their homes if they earn less than 19,200 euros per year.
Banks announce fewer and more expensive mortgages if government changes law – El Correo
While Madrid moves slowly to reform its banking sector, the European Central Bank is concerned about the possibility of an attack on financial markets which could make a costly Spanish bailout necessary.
Spain makes ECB nervous – Süddeutsche Zeitung
In spite of commitments made in 2009, Switzerland is currently blocking more than 200 French requests for information on alleged tax evaders. In Germany, the state of Baden-Württemberg has rejected the fiscal agreement with Switzerland — a move that will likely create difficulties for the accord when it comes before the Bundesrat (Federal Council). The vote on the agreement is slated for 23 November.
Fiscal deadlock with France and Germany – Le Temps
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