Denmark got its DKK 1 billion rebate!

EU countries have finally agreed on the union’s budget for the next seven years, with Denmark’s demand for a DKK 1 billion rebate on its contributions in the text of the agreement.

EU President Herman van Rompuy has confirmed agreement on Twitter.

“Deal done, EU has agreed on budget for the rest of the decade. Worth waiting for,” van Rompuy writes.

Overall, the EU will have DKK 7,428 billion to work with over the next seven years, and for the first time ever, the budget is lower than the seven-year budget that expires at the New Year.

It is also the first time that Denmark receives a rebate on its contributions to the EU.

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