EU Budget 2028–2034: Two Trillion Euros and Key Divisions

The European tour initiated by European Commission President António Costa aimed to reach consensus on the European Union's budget for 2028-2034. The proposed budget amounts to two trillion euros, the largest in the Union's history, intended to fund policies on defense, security, competitiveness, agriculture, cohesion, research, digital transformation, and the green transition. The negotiations face significant challenges, primarily disagreements over the budget size, contributions from member states, and new own resources. Germany and the "Austerity" camp are pushing for a substantial reduction in the overall budget and their contributions, while countries like France, Italy, and Spain advocate for protecting funding for social and agricultural policies. The negotiations are expected to reach a critical juncture during the December summit, following the Irish Presidency's plan to present a revised proposal in October. An exceptional leaders' meeting may be held in November to enable an agreement before the start of 2028, ensuring sustainable funding and implementation.

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