World News

EU Agrees to $1.3 trillion Budget

European Union leaders have agreed on a long-term budget that would represent the first spending decrease in the union's history.

EU officials said Friday the bloc had set a budget ceiling of $1.3 trillion for the 2014 to 2020 spending period.

EU leaders reached the agreement following a marathon two-day summit in Brussels. In a Twitter message on Friday, EU President Herman Van Rompuy said "Deal done!" He added the agreement was "Worth Waiting for."

The agreement reflects tough economic times in Europe. It calls for spending cuts in areas including infrastructure and scientific research.

The spending plan must now be approved by the European parliament.

VOA Exclusive

Kurdish Fighters Celebrate Kobani Victory

Kurds Celebrate Kobani Victory

Kurdish fighters, backed by US airstrikes, pushed back Islamic State fighters from the Syrian border town Kobani. This exclusive video shows the destruction of the city, celebrations of the fighters, plus continued firing on IS targets on the outskirts of the town. More