U.K. Prime Minister David Cameron balks at accounting changes that could shrink London's rebate, first negotiated by Margaret Thatcher in 1984.

E.U. law to share pain of bank failure could come in 2015; small savers to be shielded.

The European body rejected a Commission proposal to remove temporarily some of the oversupply that has overwhelmed the market for permits to emit carbon dioxide.

Different European bodies reach an agreement on the laws establishing a centralized banking supervisor.

Absinthe, the green-tinged alcohol that fuelled poets, writers and artists in 19th century France, does not have to contain its most important ingredient to be labelled "absinthe".

The European Union is examining whether to change how absinthe is defined.

As lawmakers and member states are close to agreeing the world's toughest curbs on bank bonuses, bankers warn fixed salaries could rise.

Budget ceiling of €960 billion set for 2014-2020 spending; first budget cut in history of European Union.

European Union leaders closed in on a deal that would cut the bloc's budget for the first time in history.

Prices fall to new record lows on panic selling; traders fear price crash to zero.