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EU leaders' budget talks end without a deal *(XEU) *PIC*

EU leaders' budget talks end without a deal (by Polya Lesova)

NEW YORK (MarketWatch) -- Talks among European Union leaders ended on Friday without a deal on the bloc's long-term budget. In a statement, the 27 EU leaders, known collectively as the European Council, said they have given two top officials the mandate "to continue the work and pursue consultations in the coming weeks to find a consensus" on the 2014-2020 budget. "The bilateral talks and the constructive discussion within the European Council show a sufficient degree of potential convergence to make an agreement possible in the beginning of next year," EU leaders also said. "We should be able to bridge existing divergences of views. A European budget is important for the cohesion of the Union and for jobs and growth in all our countries."