Ireland, which currently holds the presidency of the Council of the EU, is preparing to propose cutting the European Union’s multiannual budget by more than €100 billion. Politico reported this, citing its sources.
According to the publication, such a scenario would reduce subsidies for farmers as well as part of regional funding. Those spending lines remain among the most contested items in talks between member states.
The savings plan is opposed by the “Friends of Cohesion” group of 17 countries, which includes Italy, Spain and Poland. One unnamed European diplomat said the new document would contain cuts that “will not please the ‘Friends of Cohesion.’”
Politico also says the adoption process is being affected by parallel negotiations in the European Parliament. Those talks could be delayed because of disagreements among political forces.
The EU’s multiannual budget is approved for seven years. Negotiations are now under way on the next long-term financial framework, which, under the European Commission’s proposal and taking inflation into account, should amount to €1.76 trillion. Several countries, including Germany, a major contributor to the EU budget, consider the proposed size too high.
