(MENAFN- Kuwait News Agency (KUNA)) EU Finance Ministers' Council and the European Parliament have failed to reach agreement on the 2013 EU budget.
"Diverging views persisted notably on the volume by which the 2012 EU budget should be increased," said the Council in a statement after their meeting here, late on Friday.
On the remaining outstanding issues, the current Cyprus EU presidency will continue its efforts and try to reconcile the different positions on November 13, it noted.
On its part, the European Parliament in a statement today said negotiations on next year's EU budget were suspended due to disagreement between Parliament and Council over possible solutions to counter the lack of remaining funds in the 2012 budget. Parliament and Council have until midnight on Tuesday to reach an agreement, it said. The European Parliament wanted a budget rise of 6.8 percent in 2013 but the Council which represents the 27 EU government s wanted to limit the increase to 2.8 percent.
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