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Regional policy could be the biggest victim when the EU begins the fight over where to cut back spending.
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Europe 2020 goals
Employment: 75% of people aged 20-64 to be in employment
R&D: 3% of the EU's output spent on research and development
Climate change: reduce EU greenhouse-gas emissions by 20% (compared to 1990), improve energy efficiency by 20% (compared to ‘business as usual'), and get 20% of EU energy needs from renewables
Education: reduce school drop-out rates below 10% and ensure that at least 40% of people aged 30-34 have a degree (third-level education)
Poverty: at least 20 million fewer people in or at risk of poverty and social exclusion
Finance ministers agree to freeze nearly €500m unless Hungary corrects public deficit by end of the year.
The European Union's aid to economically deprived regions and social groups has become a battleground for arguments over the size of the Union's budget.
Co-financing share cut to 5% for six member states.
The Parliament warns against shrinking the budget for cohesion policies.
The EU must discuss the role of cohesion policy at the highest political level