After marathon budget talks, it’s over to Parliament now to determine the fate of Europe’s long-term spending plans.

What next after budget summit?

Europe’s heads of government and state  set off for home

after a breakthrough  on the EU’s long-term budget.

960 billion euros over seven years, with  spending capped at 908 billion euros.

The strength of compromise, they said,  without sacrificing key targets.

This agreement of the heads of state  and government is not enough

because the European Parliament's assent  is now necessary.

Here in Parliament, though,  the mood is less conciliatory.

At one point, MEPs had been demanding  a growth-promoting budget

It’s certainly too early for a final evaluation.

The figures on the table now are definitely  not sufficient for the Parliament.

But there are other elements  that we need to look into.

In 2009, the Lisbon Treaty gave Parliament  significant new powers of co-decision

over the budget and key policy areas like  agriculture, energy, health and regional aid,

and a say on the appointment of  the Commission President.

Many British MEPs and their allies were  happy with the outcome of the summit.

But many other MEPs weren’t  and are squaring for a fight.

The thoughts now of two experts, both  on the Constitutional Affairs Committee.

The agreement between the heads of state  would lead to a structural deficit budget.

One of the characteristics of the EU budget  compared with many national budgets

This requirement is not met  and it's serious.

but the broader politics of the Union  at present is also important.

We’re in the middle of a profound  financial and economic crisis

So plenty of reaction in the coming weeks,

with four main groups holding to firm  principles: flexibility, a mid-term review,

re-orientation towards growth and the  creation of distinct EU revenue streams.