Budget Update

Britain’s rebate continues to be a major subject of discussion made more important by the fact that other major contributors are looking to reduce their payments.

Germany, the Netherlands and Sweden, the European Union's main paymasters, are seeking to put less into the collective pot.

Meanwhile, Poland, a new member that has caught on to the game quickly is promising to back proposals for budget cuts as long as it is not affected.

Poland may back a potential reduction in the next EU budget as long as the amount of structural aid envisaged for Poland (EUR70bn) is not radically altered.

Ah, the wonderful sight of European Idealism.