EU Investment Spending Seen Sacrificed in Budget Clash
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A promised European Union investment budget to modernize the recession-hit economy is set to be scaled back in a bonfire of competing national demands.
Spending on cross-border transport, energy and research projects was chopped in a first round of talks in November and faces further cuts when leaders meet in Brussels today in what all call the last chance to set the 27-nation bloc’s budget for 2014-2020.