EU leaders agree 2014-20 budget with first ever reduction in spending

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[url]http://www.bbc.co.uk/news/world-europe-21386818[/url]

[quote]EU leaders have reached an agreement on the budget for 2014-20 after marathon talks in Brussels.

The deal was announced by European Council President Herman van Rompuy, who said it was "worth waiting for".

Mr Van Rompuy said the deal amounted to a cut of roughly 34bn euro in both commitments and payments.[/quote]