STRASBOURG, France (AP) — French President Francois Hollande warns of a tough European Union summit later this week if countries including Britain continue to demand drastic cuts to the EU budget while refusing to make concessions themselves.
In Tuesday’s address to the European Parliament, Hollande said the 2014-2020 EU budget of some €1 trillion ($1.35 trillion) was open to some savings but insisted the leaders at Thursday’s summit should not compromise innovation and development.
In several remarks that could easily be seen targeting British Prime Minister David Cameron, the biggest proponent of drastic savings in the EU budget while insisting to hold on to existing concession, Hollande said “there are those who want to see cuts, others — possibly the same, who want guarantees on their own rebate.”
