Britain retain rebates on contributions to the EU budget.
EU leaders agreed on the first significant cuts in the budget of the Union, after Merkel gave support to Cameron.
Herman Van Rompuy said the seven-year budget austerity embodies "a sense of collective responsibility among European leaders."
Cameron said he had won a historic victory for the reduction of the budget of the EU, urged the British people to be proud of his achievement.
Britain repelled attempts by France to reduce the size of the British rebate from the EU budget contributions.
British losses are only on the decision of Tony Blair to give up part of the rebate won by Margaret Thatcher in 1984 in exchange for reforms in agriculture, that never happened.
The agreement will save taxpayers thousands of British pounds from what they would be forced to pay according to the original plans of the European Commission to increase the budget.
This small victory does not warrant a new contract for the UK, despite the threat of a referendum on membership of the EU.
Germany Merkel or without it, you will hardly be inclined to keep the UK in the union, along with nearby satellites and Sweden, the Netherlands and Denmark.
The European Parliament, which is hostile to cut costs has the last word.