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European Parliament Rejects Budget Over Cuts

BRUSSELS — The lawmakers of the European Union gave austerity a poke in the eye Wednesday by overwhelmingly rejecting the bloc’s proposed budget of €960 billion in its current form.

E.U. leaders deadlocked over the seven-year plan in November but finally reached a deal last month after a 24-hour marathon of talks that resulted in spending cuts for the first time in the Union’s history.

Lawmakers at the European Parliament cast doubt on that plan Wednesday, casting 506 votes in favor of a resolution demanding significant changes to the way the money should be spent and the option to raise the overall sum in the coming years. There were 161 votes against the resolution and 23 abstentions.

Source: New York Times. Read full article. (link)

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