Italy cuts 2015 deficit goal to win EU approval for budget

(Reuters) - Italy on Tuesday cut its target for the 2015 fiscal deficit to 2.6 percent of gross domestic product from 2.9 percent, having toughened its budget plan for next year in response to changes requested by the European Commission.

The EU budget: who pays what?

The joint budget of the 27 members of the European Union is 129 billion euros ($165 billion) this year. It is used to subsidize the European agricultural sector, structural and regional aid, and programs in the fields of science, research and culture as well as some industries.

Poland hurt by EU aid freeze over suspicious road deal

Polish officials have voiced dismay over an EU decision to block nearly 1bn euros (£859m) of funding for Polish road projects amid suspicions of fraud.

EU leaders gear up for round two of budget negotiations

BRUSSELS: The collapse of EU talks Friday without agreeing a seven-year budget is not calamitous, the bloc will continue to function, but it does heap yet more pressure on a divided European Union mired in an intractable debt crisis.

Poland will look to rich EU states if budget vetoed: PM

(Reuters) - Poland, the biggest recipient of European Union funds, would seek common ground with countries that pay the most into EU coffers if a long-term budget proposal is vetoed, Prime Minister Donald Tusk said on Friday.

Deputy PM Clegg warns UK risks sliding to EU exit

(Reuters) - Britain faces a crisis that could end with the world's sixth largest economy leaving the European Union, Deputy Prime Minister Nick Clegg warned ahead of a showdown over budget spending with other states in the 27-member bloc.