Today I read there is another 'Cameron victory' in Europe. This time supposedly he managed to get the budget down to 908bn for the upcoming 7 year financial framework. Except that he didn't. What was agreed upon for real was that the EU may spend 960bn over that period. Were the EU really to spend that money, regardless of the 908bn cap on contributions, then states would be obliged under the rules to make up for the difference. The EU does not have any independent means of financing a budget deficit and if it stays within the 960bn limit the bill will be split.

Whenever Cameron comes back home, don't believe when he tells he effectively cut spending in Brussels, because he didn't.