Heads of states and the leaders of the 27 EU countries met in Brussels for an informal EU summit which closed today. The agenda for the meeting focused on 2014-2020 budget when member countries are taking austerity measures to deal with the public debt crisis.

European Council President Herman Van Rompuy (Photo: dailymail.co.uk)

In a letter to the leaders of 27 EU countries, European Council President Herman Van Rompuy said the summit aims to reach an agreement on the Financial Framework 2014-2020 to help EU have the necessary means to function in the years to come and take into account unavoidable fiscal constraints. Herman tabled a 950-billion-euro proposal to the summit. Analysts said EU leaders would face difficulties in reaching the final agreement for common benefits of 27 EU countries.