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Lewandowski - The EU budget will have to do "more with less" (Photo: ec.europa.eu)

EU institutions mark out 'red lines' ahead of budget summit

EU politicians are squaring up for a showdown on the bloc's seven year budget ahead of next week's summit.

Both the European Parliament and Commission set out their respective stalls on Friday (25 January).

"The further away the figures are from the Commission figures then the higher the possibility of a No," European Parliament President Martin Schulz told reporters. Schultz added that the Commission's proposal reflects "what Europe actually needs."

Schultz also reminded me...

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