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EU leaders strike deal on 2014-20 budget

European Union leaders have reached an agreement

on the bloc's 2014-20 budget, EU President Herman Van Rompuy

announced on Twitter.

"Deal done! (European Council) has agreed on MFF for the rest of

the decade. Worth waiting for," he wrote, using the acronym for the

budget's official name - the multi-annual financial framework.

The deal on Friday followed more than 24 hours of talks between the EU's 27 leaders.