EU Leaders ‘On the Brink’

    British Prime Minister David Cameron arrives at the EU Headquarters on February 7, 2013 in Brussels, on the first day of a two-day European Union leaders summit. European Union leaders head into a fresh clash over the EU's budget with the only certainty being that proposals for several years will be cut back.   AFP PHOTO / BERTRAND LANGLOIS        (Photo credit should read BERTRAND LANGLOIS/AFP/Getty Images)

    Cameron arriving at EU headquarters on Thursday. (AFP/Getty),AFP

    Following all-night budget talks in Brussels, the leaders of the European Union are reportedly close to agreeing on a seven-year budget plan that would fix total spending at €960 bilion. Speaking to the press after 15 hours of intense negotiations, an EU official confirmed that the rumors are true. “We feel pretty confident that we have the framework for a deal,” he said. “The deal is not completely finalized, but we feel sure it will be done today.” German Chancellor Angela Merkel and British Prime Minister David Cameron are among the top backers of the deal.

    Read it at Financial Times