On Friday European Parliament rejected the solicitation from the European Commission to increase the budget of European Union by 9 billion euros in 2013. The Eurocommission wanted to spend the money to help with the budget gap, which endangers the activation of some of the projects in education, research and infrastructure area.

But the most surprising part is that the European Parliament agreed to increase the budget which equals 129 billion euros, by 2,8%, but the members of the European Commission weren’t interested in this compromise and they didn’t get anything.

The Eurocommission will have the last opportunity to increase the budget for the next year on November 22-23, when the summit of economy ministers from 27 member countries is held. 

However the chances to increase the funding are low, since the main countries paying to the budget consider increased spending as waste of money and require more control over the budget.

Meanwhile euro currency continues its steady movement down.