The investment in innovation and technology needed to combat the economic crisis may be the main casualties of the EU’s budget squeeze

The EU’s budgetary framework works in seven year cycles with negotiations now on-going for the upcoming 2014-2020 spending programme. Ahead of a special summit on the EU’s budget next month, Giacomo Benedetto and Simona Milio write that while the budget is relatively small compared to the EU’s gross national income, expected cuts mean that investment programmes which can make a difference in light of the eurozone crisis may be under threat.