French President Jacques Chirac said Friday he could accept the latest compromise to solve the European Union's budget deadlock, even though it would cost France ¤10 billion (US$12 billion). «I am ready to make this effort if, and only if, we stop there,» Chirac told the EU summit according to a transcript distributed by the French delegation. «I can go no further,» he added. Several other nations have already rejected the compromise put forward by Luxembourg Prime Minister Jean-Claude Juncker, whose country holds the EU's rotating presidency, AP reported. Chirac said the proposal would cost France ¤10 billion (US$12 billion) over the 2007-2013 period covered by the budget talks. He urged an immediate reduction in Britain's ¤5 billion (US$6 billion) budget rebate. Chirac added that after 2013 the EU «should foresee the disappearance of the check» which the EU hands to Britain every year. A proposal to freeze the British cashback was not enough, Chirac said, adding it had to be shaved and reduced right away. He said a cut in the rebate «should in no case be conditioned on the revision of farm spending.»
