Malta meets EU presidency over financial perspectives

Maltese government officials and representatives of the British government which currently holds the presidency of the European Union met in London to discuss the next EU Budget.

Sources told The Times the meeting formed part of a series of talks the UK presidency is having with all member states to asses the potential of reaching a compromise by the end of December.

No decisions have been taken yet on whether the UK will be submitting a new proposal, however the sources said a decision will be made by the British government in the coming weeks.

Negotiations between the 25 EU member states over the multi-billion euro Budget, covering all the initiatives of the EU between 2007 and 2013, collapsed last June during an EU summit in Brussels in view of big differences between Britain and France over agriculture funds and the British rebate. At the start of the UK presidency on July 1, British Prime Minister Tony Blair promised that the UK will be doing its utmost to reach an agreement on the next EU Budget.

During the talks in London, the Maltese delegation met officials from the Treasury and the Foreign Office. Malta explained in detail what its expectations for the next EU Budget are and reiterated that an early deal is in the interest of all EU members.

Malta's priority during the current presidency remains the EU Budget. As a new member state Malta is expected to net millions of euros in structural funds over the next budgetary period. The funds will be used for various projects including major works on the country's infrastructure.

If an agreement is not reached by December, it will be up to the Austrian presidency to find a final solution in the first six months of 2006.