Latest news from EUobserver. Making sense of the EU.
Updated: 1 hour 33 min ago
British PM Cameron held up an EU summit to express his "downright anger" over the "unjustified" and "unacceptable" way the European Commission said London needs to pay another €2bn to the EU budget by December after GDP calculations were changed. EU finance ministers will examine the issue in November.
Relations between European Central Bank president Mario Draghi and German Bundesbank President Jens Weidmann have almost broken down, according to a Reuters Insight report. Weidmann's predecessor Axel Weber and ECB board member Juergen Stark both resigned in 2011 in protest against bond-buying policies of the European Central Bank.
"Europe is facing a challenge from Russia to its very existence," philanthropist George Soros warns in an article, entitled “Wake Up, Europe”, in the New York Review of Books. The EU in general, and the eurozone in particular, have lost their way after the financial crisis, he writes.
EU commission president Barroso joked Friday that beer and wine helped clinch the climate deal. "Dinner started with ... the best beer in the world, so from Belgium ... afterwards we had wine ... from Alentejo in Portugal", he said, noting it might have helped create "stimulating and inspiring conclusions".