The European Parliament today overwhelmingly rejected the EU’s seven-year €960 billion budget, agreed last month by the 27-heads of government after intense brokering.

The EU had been split between those who wanted spending cuts and those who wanted investment for economic growth.

Malta had been allocated €1.,2 billion

European Parliament President Martin Schulz said the Budget did not address the demands for spending on economic growth and lacked flexibility.

The parliament’s Budget Committee and the European Commission will now discuss a new draft which will then be presented to heads of government and the parliament.

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