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Any future cuts in EU regional funds could damage the ability of local and regional bodies to balance economic development with vital social and environmental changes, according to outgoing Budapest Mayor Gabor Demszky.

Future cuts in EU regional funds could damage the ability of local and regional bodies to balance economic development with vital social and environmental changes, outgoing Budapest Mayor Gabor Demszky told EURACTIV in an interview.

In a letter seen by EURACTIV, four EU commissioners call on their president, José Manuel Barroso, to bring key EU funds under the same umbrella from 2014, in order to cut out overlap and ensure better strategic spending.

Lawmakers in the European Parliament's regional affairs committee voted yesterday (18 March) to simplify access to the EU's billions of regional funding, saying faster access is vital for tackling Europe's economic crisis. The new rules could be in place by the summer.