The negotiation box on the EU long-term budget for 2014-2020 presented by the Cypriot Presidency is not supported by the European Commission nor by the European Parliament. Parliament's negotiators expressed their concern on the proposed cut of €50 billion as compared to the Commission's initial proposal.

The Cypriot Presidency proposal for the so-called multiannual financial framework (MFF) for 2014-2020 is not supported by the European Commission nor by the European Parliament. The negotiation box is the paper presented by the Presidency of the EU to start negotiations between member states and the European Parliament. With regard to the negotiation box presented by the Cypriot presidency, the Commission stressed its commitment with to its proposal of 16 months ago, which strikes the right responsible balance in times of crisis, both in the overall amount and in the balance between policies. On the other hand, some member states already welcomed Cyprus presidency proposal of reducing the EU's multiannual financial framework ceiling in September 2012.

The European Parliament had already said in a resolution adopted on 23 October that even the original Commission proposal for a freezing of the budget at the level of 2013 ceilings would not be sufficient to finance existing policy priorities in the Europe 2020 strategy, which comprises the new tasks laid down in the Lisbon Treaty, let alone any unforeseen events.

MEPs also added now that the current proposal presented by the Cypriot presidency, while putting a welcomed focus on the quality of spending, at the same time reduces the flexibility to transfer money between and within policy headings in the budget. They highlighted that the proposal contradicts European Council's growth and jobs compact. The EP negotiation team will now carefully study the new negotiating box presented by the Cypriot Presidency, but will advise the EP to act in line with its earlier positions. Any decision that disregards the European Parliament's position could result in a veto by the EP.