Our take: The European Union has been working to find budget solutions that all members can agree on. Bruce Crumley from TIME Magazine writes about why the decision is taking so long.
"It's difficult to designate an obvious villain in the European Union's stalled budget negotiations. Virtually all 27 member states are advancing mostly national interests in what's supposed to be the world's largest team effort. That is why few observers expect E.U. leaders converging on Brussels Thursday for another round of budget summitry to come away with a mutually acceptable compromise. Indeed, no agreement may be the best agreement for all concerned.
"The Feb. 7 and 8 summit seeks to establish the E.U.'s budget for the 20142020 period a quest that went nowhere when leaders last huddled to talk finances in November. On the face of it, the cause of the impasse is fairly simple. Fiscally conservative countries like the U.K., Germany, the Netherlands and Denmark want to see Europe's budget cut in the same way that spending by national governments has been slashed to remedy debt-plagued public accounts. Countries like France, Poland, Italy and Spain, by contrast, generally seek to maintain or inch up current E.U. funding levels and redirect money saved through austerity to other economic and social programs capable of stimulating slumping growth. If that seems like dj vu all over again, it is: those are largely the same fault lines that split northern and southern E.U. members over how to respond to Europe's financial crisis."
- What's in a name? At Grand Canyon, history,...
- Are you part of the global 'baby shortage'?
- Faith leaders: your secret weapon in the...
- Another study lists Salt Lake as one of the...
- Nintendo opens 2015 with some big announcements
- No-tip restaurant offers food for thought on...
- Rocky Mountain Power offers energy-saving...
- Construction industry booming but facing...
- EPA inventory highlights 'toxic'... 19
- Analysis: Obama seizes on recovery,... 17
- Obama's proposed mandatory paid... 13
- Utah has fourth largest gender wage... 12
- Another study lists Salt Lake as one of... 10
- Are you part of the global 'baby... 10
- Survey ranks Utah's best and worst... 9
- Obama pitches his economic plan to... 6