European Parliament greenlights 2014-2020 EU budget proposal

The European Parliament on Wednesday approved a proposed trillion-euro EU budget for 2014 to 2020 that has been held up by months of dispute between governments, the parliament and the EU executive.

The parliament's 754 MEPs voted in favour of a revised proposal that was approved last week by the EU's heads of state and government but will put the budget to a formal vote in September or October for final adoption.