Doing more with less money. This is what the European Council believes with the adoption of the conclusions of the MFF, the European Union's Multiannual Financial Framework 2014-2020. For the first time in history, the EU budget has been reduced. As a first reaction, the leaders of the biggest political groups in the European Parliament underlined in a joint statement that they cannot accept the deal reached by the European Council. MEPs debated the EU's long-term budget with European Council President Herman Van Rompuy and Commission President José Manuel Barroso here in the European Parliament.