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EU: Budget talks stall with disagreement over antitrust fines

 |  November 18, 2014

Income secured by the European Union from antitrust fines and other sanctions is now in limbo as discussions between the EU and its member states regarding its 2015 budget stalled Tuesday.

According to reports, discussions were hit with a roadblock when member states introduced demands on the last day of a three-week conciliation process that $6.3 billions in fines income be allocated to member states to curb fiscal deficits. Reports say the majority of those fines are the result of antitrust sanctions.

The European Commission is slated to present a draft 2015 budget in only a few days, which will need to secure clearance from all member states as well as the European parliament. Lawmakers have until December 31 to agree on a budget, or the budget will be capped at the same levels as 2014.

Full content: Business Times

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