EU leaders reject budget proposal, endangering year-end deal
EU leaders strongly opposed a new long-term budget proposal on Thursday, casting doubt on reaching a deal by year's end. Swedish Prime Minister Ulf Kristersson called it "far too big, far too expensive," citing a nearly 60% increase in Sweden's net contribution as unacceptable. The 2028-2034 budget, proposed at 1.62 trillion euros by Ireland, faces criticism from net contributors like Germany and 17 "Friends of Cohesion" countries seeking to protect farm subsidies and regional funds. EU Budget Commissioner Piotr Serafin warned the cuts could reduce the bloc's capacity to act collectively. European Council President António Costa stressed the need for agreement by December to ensure funding continuity. Upcoming elections in France, Italy, Poland, and Spain could complicate negotiations, though missing the deadline would not immediately halt funding. All 27 member states and the European Parliament must endorse the final package.