An agreement on EU's annual budget for 2013 and on an additional budget to cover payment shortfalls in 2012 has finally been found. MEPs approved it during the December plenary after the Parliament's received written guarantees from the Council and Commission to remedy anticipated shortfalls in 2013 swiftly.
The Parliament decides on the EU budget together with the members states on an equal footing. This means that the EU budget cannot be adopted without the agreement of MEPs.
Read on to find out more about the whole process.