EU leaders OK slimmer budget

The $1.28 trillion, 7-year deal awaits parliamentary approval

Posted: February 9, 2013 at 3:22 a.m.

German Chancellor Angela Merkel and French President Francois Hollande arrive for a news conference Friday at the conclusion of the European Union’s budget summit in Brussels.

European Union leaders agreed Friday to a significantly reduced 7-year budget worth $1.28 trillion — the first cut in spending in the 27-country group’s history.

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Business, Pages 27 on 02/09/2013