An EU budget deal that sends the wrong signals

European Union leaders put a lot of effort into a long-term budget agreement that helps farmers but will do little to create growth and jobs

The European Council’s agreement on a long-term budget for the European Union for 2014-20 has been lauded as evidence that Europe’s political leadership is getting better at timely decision-making. The agreement was not without some theatre. Government leaders were required to stay up all night, creating an impression of earnest endeavour that paved the way for a victory for the austerity agenda of David Cameron and Angela Merkel, the leaders of the United Kingdom and Germany.

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