AOL.com Video - EU Embraces Austerity For 7-Year Budget Deal

VIDEO:News

EU Embraces Austerity For 7-Year Budget Deal

Description:It took them 24 hours of talks - but this time they reached a deal. EU leaders have agreed on a 7-year budget worth almost 1 trillion euros. First came the framework - after all-night negotiations. Then after a short break on Friday morning, leaders returned to iron out the details. EU Council President Herman van Rompuy said it was a lengthy but successful summit. (2:08)

Source: Reuters

Tags: reuters , angela merkel , david cameron , EU Council President