The EU member states and the European Parliament are trying to agree on next year's budget plan before the approaching deadline.
The finance ministers in the Eurozone have agreed on introducing a budget tool for the 19-member states during a lot of negotiations and discussions. However, a lot of issues remain unclear.
EU finance ministers have agreed on the broad outlines of a eurozone budget, a key reform pushed by Paris that was scaled back amid deep resistance from the Netherlands
Germany and France will reportedly seek to revive the long-delayed EU financial transaction tax by proposing that member states be allowed to use the revenues to reduce their EU budget contributions.
Brussels has officially rejected Italy's big-spending budget, clearing the path for unprecedented sanctions and deepening a bitter row with Rome's populist government.