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EU budget: Leaders edge towards compromise deal

8 February 2013 Last updated at 14:23 GMT

EU leaders are edging towards a compromise deal on the 2014-2020 budget after all-night talks, officials say.

Britain and the Netherlands were among the countries pushing for a cut to the budget.

However, some members, including France, argued that a reduction would prevent the creation of new jobs.

The BBC's Europe Correspondent Matthew Price reports.