EU budget: 'Successful 24 hours', says Van Rompuy

The president of the European Council, Herman van Rompuy says a deal has been reached on the next seven-year EU budget.

The leaders of the 27 member states have set a spending ceiling of 908bn euros (£768bn; $1.2tn), significantly less than the sum originally proposed by the European Commission.

The agreement comes after a night of frantic negotiations.