German Chancellor and European Council President Discuss EU Budget

Berlin, Sept 9 (KUNA) -- German Chancellor Friedrich Merz and European Council President António Costa discussed the future of the European Union’s long-term budget for the 2028-2034 period on Wednesday. In a joint press conference following the meeting, Merz said that the European Commission’s proposal, which approaches two trillion euros, requires significant cuts, noting that a budget increase of about 60 percent compared to the current framework is unaffordable at a time when member states are reducing their spending. The German chancellor called for directing more funds toward defense and enhancing competitiveness while cutting spending in various areas, rejecting reliance on further joint borrowing at the EU level. For his part, Costa said that member states must reach an agreement on the new budget by the end of this year, emphasizing the need to find new financial resources for the EU without increasing the burden on national budgets. Approval of the multiannual financial framework requires unanimous consent from all 27 member states. (End) A.N.J. / R.J.