MEPs approve long-term budget compromise

Lawmakers have approved a compromise struck last week on the multi-annual financial framework, the EU’s budget for 2014-2020.

The deal left unchanged the total amount if the seven-year budget which was set at €960 billion at an EU leadership summit in February.

But the Parliament succeeded in including more flexibility so that unspent money can be transferred from one year to the next, or to priority areas, rather than returning it to national budgets as is currently the case.

MEPs said the budget invests in programmes that will help lift the EU out of its economic doldrums.