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U.S. Markets

Germany still wants future EU budget contribution cap of 1% of GDP

BERLIN (Reuters) - Germany does not expect EU leaders to agree on the EU’s future financial framework, a 7-year budget starting in 2021, at this week’s summit, a senior German government official said on Wednesday.

The official said Germany was sticking to its position of national contributions being no more than 1% of gross domestic product. He also said he expected the summit to extend sanctions on Russia.

Reporting by Andreas Rinke; writing by Madeline Chambers; editing by Paul Carrel and Thomas Seythal

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