-British PM terms European Union budget plans 'ludicrous'.
Global Banking News - 07 November 2012
The British Prime Minister, David Cameron, has termed the European budget plans 'ludicrous', while threatening to veto the EU's seven year budget plan, according to a Reuters report.
Cameron is pushing for a separate budget for the crisis hit European Union's 17 state eurozone currency union. Britain does not belong to this union. He stated that the proposed EUR100bn increase in the European budget was ludicrous, as well as expressing his reservations over the hopes of a November agreement.
He said that it would be difficult because the union had '27 different people with 27 different opinions.'
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