Budget, EU – Baltic States, Financial Services, Investments, Legislation

The next year's budget spending was dictated by the agreement between the European Parliament and EU member states. The budget was approved during an emergency meeting of the European Parliament Committee on Budgets in Strasbourg.

"We have prevented a short-term crisis, as the agreement will allow to make important investments in Latvia's economy already starting January, however, there is enoughh on our plates in order to fix the EU finances," MEP Inese Vaidere (EPP/Unity) said.

She explained that after long discussions with the EU member states and the European Commission, it was decided that additional EUR 4.8 billion will be used to cover the 2014 and 2015 costs. The deputy said that the total amount of unpaid expenses has increased in the past couple of years – from EUR 5 billion in 2010 to more than EUR 23 billion at the beginning of the year.