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The EU budget has proved a highly contentious issue (Photo: European Commission)

the EU budget explained

The European summit on 15-16 December will focus discussions on the "financial perspectives", the EU budget for 2007-2013.

What spending areas does it cover, how do the positions and proposals differ and why is it such a contentious issue?

What is the \\"financial perspective\\"?

This is the seven-year framework which provides a legal basis for the annual EU budgets.

It sets out the limits for the block's expenditure.

The plan spells out five main spen...

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The EU budget has proved a highly contentious issue (Photo: European Commission)

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