The European Union's latest budget summit ended without a deal after 28 hours of talks.
Leaders in attendance could not could not find a compromise after a half dozen wealthy member states insisted they would not stump up more funds for the bloc's next long-term spending package.
The package being touted was worth around one trillion euros.
EU Council President Charles Michel said: "Unfortunately today, we have observed it was not not possible to reach an agreement."
He added that "we need more time".
Mr Michel spent much of Thursday night locked in one-to-ine talks with leaders, including Chancellor Angela Merkel and Emmanuel Macron, in a bid to end the impasse over the 2021-27 spending plans, the Financial Times reported.
Discussions have allegedly thrown up rifts around how to fill the €60-75 billion funding deficit left by Brexit.
Dutch prime minister Mette Frederiksen summed up the mood of pessimism on Friday morning, indicating another summit would "probably" be needed.
She told reporters: "I'm willing to stay and I'm prepared to sty the whole weekend. But no, I don't think we are going to reach an agreement."
