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Eurealist :: Main Page: “Germany not to raise contribution to EU budget
by Eurealist on April 15, 2005 04:25PM (BST)
Xinhua - English BERLIN, April 14 (Xinhuanet) — German Chancellor Gerhard Schroeder said here on Thursday his country will not raise its contribution to the European Union’s budget. Speaking to reporters after meeting European Commission President Jose Manuel Barroso, the chancellor also expressed his doubts over whether EU’s new budget would be adopted at a summit in June. ‘We have no leeway for movement,’ he said, vowing that Germany will not pay more to the EU than its present maximum rate of 1 percent of EU’s collective GDP. Germany, the largest contributor to EU’s budget, currently pays about 20 percent of the EU’s annual budget of 100 billion euros (about 128 billion US dollars). Barroso expressed his hope that compromise will be made. ‘A compromise is needed,’ he said. He noted that if leaders failed to reach agreement on the budget issue in June, it will be difficult for EU leaders to reach deal later”