The Rebate Debate
Can the European Union avoid another damaging bout of budget paralysis? That's the big question following last week's E.U. summit in Brussels, at which French President Jacques Chirac questioned why Britain should continue to receive a €4 billion annual rebate on its payments.

In 1984, then Prime Minister Margaret Thatcher won the rebate for Britain by demanding: "I want my money back", and holding up E.U. business for months until she got it. E.U. leaders are supposed to fix a new budget framework this year for 2007-2013, and already there's disagreement...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!