EU governments are preparing for spending cuts of over €100 billion due to a new proposal for the long-term budget of the bloc. This information has been obtained from four EU diplomats involved in the negotiations.
Concerns of Member States
Some countries are worried that funding for their important projects, including agricultural subsidies and regional payments, will be affected by the cuts. Ireland's presidency of the EU Council is set to present documents with new figures next week that may further heighten these concerns.
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With three months left until the unofficial deadline for concluding negotiations, member states are still far from an agreement. Germany and the cost-cutting coalition it leads proposed cuts of several hundred billion euros to the European Commission's nearly €2 trillion proposal on Tuesday.
Challenges in Budget Negotiations
Leaders from Germany, Denmark, the Netherlands, Austria, Sweden, and Finland wrote to Micheál Martin, the Prime Minister of Ireland, stating that if Ireland's budget proposal is used as the basis for negotiations, it must set an overall volume that responds to the financial realities of those who bear the main financial burden.
One diplomat said that cuts are expected to be implemented that will
