Irish minister says EU budget deal still possible 'by Christmas'

What happened: Ireland's Minister of State for European Affairs and Defence, Thomas Byrne, said EU countries moved closer to agreement on the bloc's long-term budget and that a deal is still possible by Christmas. Why it matters: Divisions persist between countries seeking deeper cuts, such as Germany, the Netherlands and the Nordic states, and southern and eastern countries including Spain and the Baltic states that want to preserve funding for the EU's poorest regions.

Ireland's Minister of State for European Affairs and Defence, Thomas Byrne, said EU countries moved closer to agreement on the bloc's long-term budget and that a deal is still possible by Christmas.

Divisions persist between countries seeking deeper cuts, such as Germany, the Netherlands and the Nordic states, and southern and eastern countries including Spain and the Baltic states that want to preserve funding for the EU's poorest regions.