So what happens next for the EU?
Andrew Grice has been Political Editor of The Independent since 1998. He was previously Political Editor of The Sunday Times, where he worked for 10 years, and he has been a Westminster-based journalist since 1982. His column, Inside Politics, appears in The Independent each Saturday.
Friday 23 November 2012
The 27 EU leaders will try to break the deadlock over the Union’s budget for 2014-20 at yet another summit in January or February.
Although there is no formal deadline, the closer it gets to 2014, the greater the risk that its spending programmes would be disrupted.
The betting in Brussels is that there will be agreement early next year. Another failure would be hugely embarrassing. If there is no deal, the EU would switch to annual budgets, which would rise by at least two per cent each year for inflation.
They would be approved by qualified majority voting, depriving Mr Cameron of his veto, and so could result in a bigger EU bill for British taxpayers.
That might be difficult to get through the House of Commons, which voted for a cut in EU spending last month, landing the Prime Minister with a big headache. So he will have an incentive to sign up early next year.
- 1 BBC told new political editor must be 'impartial' with Nick Robinson reportedly stepping down
- 2 Number of young homeless people in Britain is 'more than three times the official figures'
- 3 Humans of New York image of crying gay teen receives best response yet from Ellen DeGeneres
- 4 The map showing the most dangerous tourist destinations in Europe, according to the Foreign Office
- 5 Swedish minister gives strongest case yet on why EU should stop turning away asylum seekers
BBC told new political editor must be 'impartial' with Nick Robinson reportedly stepping down
Isis propaganda video shows 25 Syrian soldiers executed by teenage militants in Palmyra
Number of young homeless people in Britain is 'more than three times the official figures'
Humans of New York image of crying gay teen receives best response yet from Ellen DeGeneres
The map showing the most dangerous tourist destinations in Europe, according to the Foreign Office
More Britons believe that multiculturalism makes the country worse - not better, says poll
Nathan Collier: Montana man inspired by same-sex marriage ruling requests right to wed two wives
Greece crisis: IMF was pushed around by Angela Merkel and Nicholas Sarkozy – and now it is being humiliated
Forget little green men – aliens will look like humans, says Cambridge University evolution expert
Girl, 7, stares down hate preacher at Ohio festival with pro-LGBT rainbow flag gesture
Osborne to cap family benefits at £23,000 – announced ahead of his post-election Budget
£7 - £10 per hour: Recruitment Genius: This care provider is looking for Home ...
£30000 - £35000 per annum: Recruitment Genius: One of the UK's leading web des...
£27000 - £35000 per annum: Recruitment Genius: A growing, successful, friendly...
£16000 - £25000 per annum: Recruitment Genius: This family owned, independent ...