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Speaking in Brussels, the Taoiseach said: "This is an important day for Europe. Our political agreement this morning is an example of the EU rising to a challenge. Where there is belief, cooperation and conviction, Europe can deliver."
The Tánaiste, who acted as lead negotiator on behalf of member states, said: "Concluding agreement on the EU budget has been an Irish Presidency priority Since the beginning of our Presidency. Today's political agreement represents a fair compromise that can be supported by all institutions. Once finalised, this unlocks €960 billion in investment in growth and jobs over the next seven years."
EU Member States must now endorse the agreement before it is sent to the European Parliament for a vote.
Last February, the European Council agreed on the EU budget for the next seven years, the Multi Annual Financial Framework (MFF). The Irish Presidency was mandated on behalf of Member States to secure the agreement of the European Parliament.
The Tánaiste and Minister for Foreign Affairs and Trade, Eamon Gilmore, together with the Minister of State for European Affairs, Lucinda Creighton, has been leading negotiations with the European Parliament.
President Van Rompuy said: "I warmly welcome the agreement reached between the Presidency of the Council of the European Union and the President of the European Parliament on the next Multi-annual Financial Framework for 2014-2020 with the full cooperation of the President of the European Commission. The formal conclusion of this political agreement between the Council and the European Parliament is crucial to set in motion this seven year budget for the Union, in line with the agreement among heads of state and government at the European Council on 7-8 February. I therefore encourage both parties to formalise the agreement as soon as possible."
President Barroso said: "This is a good deal for Europe, this is a good deal for European citizens, this is a good deal for the European economy. The deal includes more flexibility on both payments and commitments. The deal includes frontloading of expenditure on critical issues like youth employment, research, youth, namely Erasmus, and also SMEs. The deal includes also the possibility for the countries that so wish to increase the aid for most deprived people. The deal also confirms the agreement reached for this year amending budget and it gives guarantees that there will be the payments for European beneficiaries. This is extremely important namely for those regions and those citizens in Europe that badly need this investment. So, I want to make this point clear: when we speak about the Multiannual Financial Framework, the budget for Europe, this is not an abstract concept. This is the growth fund for Europe."
See also:
Elements of the political agreement on the European Union's future budget 2014-2020
BUDG Committee: "Austerity budget" for 2014 prompts many questions in Parliament, 26.6.13