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EU budget summit ends without deal, retry in 2013
European Union leaders failed to reach agreement on Friday on a new seven-year budget for their troubled bloc, calling off talks in less than two days after most countries rejected deeper spending cuts demanded by Britain and its allies. European Council President Herman Van Rompuy decided to end a summit on the 2014-2020 EU budget, worth about 1 trillion euros, and try again early next year rather than continue negotiating into the weekend, sources in six delegations said. "It's over," one EU official involved in the talks told Reuters. He said leaders were working on a statement saying when they will return to ... (full story)