
The European Union has clinched a deal on a sharply trimmed 2014 budget after a marathon 16-hour session ending a long dispute over how best to spend taxpayers' money. After decades of growth, next year's EU budget is set to be around 7% lower than this year's at 135.5 billion Euros in contributions by member states.

Peru has scored a significant victory in the age-old battle with Chile over the origin of the two countries’ most popular liquor, with the European Commission recognizing the former as the original home of pisco

The Euro zone economy's gross domestic product will grow 1.1% in 2014 and 1.7% in 2015, with imbalances diminishing as unemployment remains at unacceptable levels, the European Commission said in a report released earlier this week.

Spain is clutching at straws in trying to pretend that the annual United Nations Fourth Committee consensus decision is somehow something new or that will restart the Brussels Process, the Gibraltar Government said on Wednesday.

The Gibraltar Government has sent a complaint to the European Commission about the “disproportionate checks” being conducted by the Spanish authorities on pedestrians entering Spain. It follows the recent build-up of pedestrian queues over the past fortnight, reports the Gibraltar Chronicle.

The European Commission has received no ‘well-founded’ complaints alleging Gibraltar’s failure to cooperate on tax, financial and money-laundering matters, according to Michel Barnier, the Commissioner for Internal Market and Services. In response to questions in the European Parliament, Mr Barnier also confirmed that Gibraltar was fully up to date with the transposition of EU legislation in all three fields, according to a report from the Chronicle.

European Union member states agreed to impose punitive duties on imports of biodiesel from Argentina and Indonesia, which are accused of selling it into the bloc at unfairly low prices, according to diplomats. Argentina has anticipated it will take the case to the World Trade Organization.

The president of the European Commission, Jose Manuel Barroso anticipated that 'soon' there will be 'events' referred to the EU/Mercosur cooperation and trade agreement and underlined that Brazil is most interested in making possible such an accord.

Argentina's bio-diesel industry warned it faces collapse if Europe makes good on a threat to impose stiff duties on their product next month. The European Commission earlier this month moved to raise duties on Argentine and Indonesian bio-fuels in response to alleged dumping.

European Commission said that it had received no “official, specific” complaint alleging tax fraud in Gibraltar, despite Spain’s repeated accusations against the Rock. Commission spokesman Olivier Bailly made the clear statement as he reminded reporters that allegations of tax evasion had not formed part of Wednesday’s fact-finding mission to the border.