Key facts
- Cyprus President Nikos Christodoulides proposed a 3-4 year EU budget cycle.
- He cited unpredictability of events like COVID-19 and the Ukraine war as reasons.
- Christodoulides expects the final budget to be 10-11% smaller than proposed.
- An EU official called the shorter timeframe idea 'weird'.
Cyprus President Nikos Christodoulides suggested that the European Union should consider adopting a three or four-year budget cycle instead of the current seven-year plan. In an interview with POLITICO on the sidelines of an EU leaders' summit in Brussels, Christodoulides argued that planning for such a long period is impractical given the unpredictable global landscape, citing events like the COVID-19 pandemic and the war in Ukraine. He believes a shorter budget timeframe could be more manageable for some member states. The EU's current seven-year budget is valued at approximately €2 trillion and faces divisions between countries advocating for a smaller budget and those seeking to protect agricultural and regional funds. The timeline for agreeing on the budget is increasingly uncertain, with an upcoming election in Spain potentially delaying consensus until 2027. Christodoulides also anticipates that the final budget will be around 10% to 11% smaller than initially proposed by the European Commission.