Nečas: Veto threat secured higher EU funding for Czech Republic

The Czech prime minister, Petr Nečas, says the Czech Republic’s threat to veto a proposed European Union budget helped secure more funding for the country. Mr. Nečas made the comment in Brussels on Friday shortly after a summit of EU leaders hammered out an agreement on a budget for the 2014–2020 period. Under the deal, the Czech Republic will be able to draw up to EUR 20.5 billion as part of the bloc’s cohesion policy. That figure is down from the EUR 26.7 billion available to the country under the current long-term budget, with the fall reflecting both austerity efforts and the Czech Republic’s relative growth in wealth. Mr. Nečas said the figure proposed prior to the summit was unacceptably low and that the country’s veto threat had been “significant” in winning increased funding, adding that the sum for the Czech Republic per capita would still be fourth highest in the EU.