Schulz: 'Barroso says 15 November the EU will run out of money' [PressTV]

The European Commission is considered the power house of the European Union. It is responsible for administering billions of euro for hundreds of projects and programs across the EU. Now, this power house is about to run out of cash. Any additional funding to its 2013 budget must be approved by both the European Council and the European Parliament.

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