EU member states wrangle over all-important budget: Is a deal this year feasible?
Summary
EU leaders held a long meeting on October 15-16 but did not agree on the European Union’s budget for 2028 to 2034. The main disagreement is between countries that want to cut spending and those that want to keep or increase it. This budget will decide how the EU funds its future projects and priorities.Key Facts
- The EU summit lasted for two days but ended without a budget deal.
- The budget covers the years 2028 to 2034, affecting long-term EU plans.
- "Frugal countries" want big cuts in the proposed budget.
- "Friends of cohesion" argue against budget cuts to support regional development.
- EU member states are divided, and no clear compromise has been reached.
- The budget talks are urgent because many EU countries will hold elections next year.
- The European Parliament will also have a role in approving the budget.
- French President Macron has urged EU leaders to reach a budget deal by Christmas.
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