Europe News
Cyprus proposes €32.8 billion cut to next EU budget as compromise
Cyprus proposes a 2% cut — worth €32.8bn — to the EU's draft €2 trillion budget for 2028–2034, in a bid to bridge the gap between "frugals" and cohesion-minded member states. The figures, now on the table for the first time, will serve as the starting point for the sensitive negotiations ahead.
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"Super Mario" celebrated for defending the euro and European unity
Former European Central Bank president Mario Draghi received the 2026 Charlemagne Prize on Thursday, 14 May, in Aachen, Germany, in recognition of his contributions to European unity and his leadership during the eurozone debt crisis of the 2010s.
EU.XL
EU’s €2 trillion budget talks risk becoming ugly and delayed
A fierce budget battle is brewing in Brussels as the European Parliament pushes for nearly €200 billion more in the EU’s next long-term budget, setting up a clash with Ursula von der Leyen and fiscally conservative member states over how to fund Europe’s ambitions.
EU.XL
MFF mayhem: Should the EU increase its budget, or focus on austerity?
The next MFF has sparked a high-stakes tug-of-war between the European Commission, which proposed an initial €1.8 trillion plan, the European Parliament, insisting on an additional €200 billion, and "frugal" member states determined to slash spending.
Europe News
Von der Leyen offers minor concessions on EU budget to placate MEPs
Ursula von der Leyen has proposed changes to her €2 trillion EU budget to empower regional authorities and protect financing for rural areas. The tweaks look to stave off a parliamentary rebellion after a week of tensions.
Europe News
The European Parliament revolts against Commission budget proposal
Four political groups, including the European People's Party, send strongly-worded letter to Ursula von der Leyen asking for changes to the budget proposal. “The Parliament cannot accept this as a basis to start negotiations”.
