Fear of failure looms over EU budget summit

An EU budget summit seemed set for trouble before it began on Thursday as leaders were to start two days of talks to agree a trillion-euro budget that has bitterly divided a 27-nation union already mired in crisis.

European Union officials were scrambling to find an all but impossible compromise on the 2014-2020 budget that could successfully move richer nations looking for cutbacks closer to poorer ones who look to Brussels to prop up hard hit industries and regions.

via Business feed http://www.scmp.com/business/economy/article/1088153/fear-failure-looms-over-eu-budget-summit