Talks on the 2015 EU budget will have to restart with a fresh proposal from the European Commission, after ministers and the European Parliament failed to reach an agreement before the deadline.
The Council of Ministers and the Parliament failed to find a common position to address the problem of the EU’s unpaid bills in time for the process to continue. Unpaid bills have been increasing since 2010 and are expected to rise to €28 billion by the end of this year.
In a vote on 22 October, the Parliament rejected cuts amounting to €522 million in commitments and €2.1bn in payments proposed by the ministers. Both institutions then entered into a 21-day conciliation period, which ended at midnight on 17 November without any deal.
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