The President of the Committee of the Regions, Ramón Luis Valcárcel, welcomed the announced agreement between the European Parliament and the European Council on the EU budget 2014-2020. He said: "A reasonable compromise on the budget is key to ensure that the EU is able to support regions, cities, business and citizens through a shared long term investment strategy. The European Parliament's new role in shaping and adopting the budget has proven to be a crucial tool for democratic legitimation".
Looking forward to the next steps, President Valcárcel highlighted the importance of keeping to the tight schedule in finalising the agreement: "We all hope that the announced agreement can be formally adopted as soon as possible. It is also vital to speed up the formal adoption of the cohesion regulation package, as well of all sectorial regulations, which are needed to allow the actual implementation of funds and investment programmes. Given the timing of the budget negotiation, we cannot afford further delays if Europe is to be on the side of its citizens".
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