12 February 2001, 16:27  ECOFIN EU approves 971 mln eur extra budget for 2001

BRUSSELS (AFX) - EU finance ministers have approved the 971 mln eur EU supplementary budget for this year to cover beef industry costs in the wake of the BSE (bovine spongiform encephalopathy) cattle disease crisis, officials said. The money comes from a margin within the existing 2001 budget. Though European budget commissioner Michaele Schreyer said fresh money may be needed to finance costs of the BSE crisis, several ministers stressed spending must remain within the long-term financial guidelines agreed in 1999, they said. German finance state secretary Caio Koch-Weser told journalists any extra money for beef must come from within the EU's planned budget.

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