DTN News - SPECIAL REPORT: Germany Warns UK Against EU Budget Veto
(NSI News Source Info) TORONTO, Canada - October 22, 2012: Germany is warning Britain that its threat to veto the European Union’s new budget will force Berlin to cancel next month’s EU budget summit.
British Prime Minister David Cameron has threatened to veto any agreement on the EU’s new seven-year budget other than a complete spending freeze.
German Chancellor Angela Merkel has reportedly decided that holding talks on the 2014-2020 budget while Britain is almost certain to veto it is pointless, The Financial Times reported.
A veto will further outrage EU members after Cameron also vetoed an EU-wide financial agreement to help the eurozone crisis back in December and forced the other 26 nations to sign the pact without Britain.
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