The European Parliament has given its approval to a 127.3 billion Euro budget for the European Union for 2007, substantially higher than at a first deliberation in July.Payments are 122 billion Euro, equalling 1.04 percent of Gross National Income (GNI.) The Council had adopted a draft budget of 125 billion Euro in commitments and 114 billion Euro in payments, or 0.98 percent of GNI. With this vote, the Parliament has stayed well within the margins of the Financial Perspective. The strategy of t...

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