Netherlands joins Germany in EU budget overhaul demands
9 hours ago
- The Netherlands and four other countries join Germany in demanding the EU cut 'hundreds of billions' in planned spending for the 2028-2034 budget or they will block approval.
- The six countries (Germany, Netherlands, Sweden, Denmark, Austria, Finland) want to shift funds from farmer subsidies and poorer regions to defense and innovative businesses.
- These six countries contribute about 40% of EU budget revenues, and the budget requires unanimous agreement from all 27 member states.
- A group of 17 countries, including Spain and Italy, oppose the cuts and want more spending on farmers and poorer regions, with some advocating for a larger overall budget and joint debt issuance.
- EU leaders aim to reach a balanced agreement by the end of 2026, before elections in key countries that could complicate negotiations.