No EU budget conciliation agreement - new Commission proposal required
The Council and the European Parliament did not succeed in reaching an agreement on the 2015 EU budget as well as on outstanding payments in the 2014 budgets, despite last-minute conciliation talks continuing until the midnight deadline on Monday, 17 November 2014. Further talks between the Council and Parliament will be required, based on a new Commission proposal.
Although the Council described the talks as "constructive" and "useful for looking for a common ground", positions were still too far apart, with the current serious budget constraints in member states limiting the room for manoeuvre, and Parliament insisting on solving the problem of outstanding payments to safeguard the EU's credibility. With regard to the latter, Parliament has asked for a roadmap to be drawn up with a precise timetable for reducing the accumulating amount of unpaid bills.
With the 21-day conciliation period provided for by the Lisbon Treaty now expired, the European Commission will have to propose a new draft budget. If this proposal cannot be adopted by 1 January 2015, a sum equivalent to not more than one twelfth of the budget appropriations for 2014 or of the draft budget proposed by the Commission, whichever is smaller, may be spent each month for each chapter of the budget.
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