German chancellor Angela Merkel has stated that an agreement on the European Union's (EU's) next spending budget is unlikely to be reached at this week's Brussels summit.
Ms Merkel, who is the leader of the eurozone's biggest economy, claimed further negotiations may be required at a later date after members adjourned talks until midday today (November 22nd).
The summit had already been delayed for three hours due to stark differences in opinion among EU figures over the suitable actions.
Most members support an increase in the budget, but several states have argued that the move is not appropriate in a time of austerity.
"I believe that the positions are quite far apart, in certain respects," Ms Merkel said yesterday.
French president Francois Hollande also cautioned that an agreement will not be possible at this time, but remained optimistic that EU members will come to a conclusion in future talks.
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