The European Commission has declared that its 2012 budget is inadequate to meet its obligations, by up to €9 billion. Affected programmes include the Erasmus student exchange scheme, which has a shortfall of €90 million, and Marie Curie Actions, which needs €102m. The Commission has asked for an amended budget to meet its obligations, and says the gap arose because the Council and Parliament adopted an inadequate budget at the end of 2011. The Council and Parliament have until 13 November to agree any amendments to the 2012 budget, as well as the budget for 2013.
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