EU to increase this year’s budget

The EU Economic and Financial Affairs Council, embracing the Economics and Finance Ministers of all of the Union’s 27 member-states, agreed Tuesday an increase in the EU budget for this year by 7.3 billion euros, to 140.3 billion euros.

The ministers point out in a statement that the money will be used to prop up economic growth, create jobs and put an end to youth unemployment.

According to the BBC, some countries, including the UK, are opposed to any additional funding.

Paradoxically, the EU governments agreed to cut down on the EU's future spending just three months ago.