BRUSSELS: The European Union (EU) is trying its best to avoid chaos as leaders are to hold a Brussels summit Thursday (Friday in Manila) to set a seven-year budget despite splits between some stingy rich nations, poorer ones wanting to preserve spending and others wanting to fund grand global ambitions.
The money tussle, hard-fought at the best of times, is especially problematic this time around because of Britain’s departure from the EU. The “Brexit gap” caused by the loss of the UK’s contribution is 75 billion euros ($81 billion) over the 2021 to 2027 period.
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