(MENAFN- Qatar News Agency) French President Francois Hollande said early Friday that he was not satisfied with a new proposal for the European Union's 2014-20 budget. Hollande is resisting any cuts from agricultural budget noting that EU agricultural aid would still be cut by 17 Billion euros (22 billion dollars) under the plan, compared to an initial plan drafted by the European Commission.
"I am not yet satisfied with what is planned.... For us, this reduction is still too large," German news agency (DPA) quoted him as saying after talks with his EU counterparts in Brussels. France is the biggest beneficiary of the Common Agricultural Policy which the budget's biggest item. He has also echoed German Chancellor Angela's Merkel's assessment that the current EU summit will not produce an agreement on the budget.
British Prime Minister David Cameron wants to keep funding for the next seven years down, arguing that individual countries are having to make tough cuts in their national budgets.
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