Van Rompuy trims spending plans for 2014-20 by €75bn

Reductions go €25bn further than Cypriot draft.
The way ahead

Herman Van Rompuy, the president of the European Council, has proposed reductions in the European Union’s multi-annual spending plan for 2014-20 that go beyond those proposed by Cyprus in previous versions – around €75 billion compared with €50bn proposed by Cyprus. 

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