Key facts
- EU leaders are negotiating a nearly 2 trillion euro budget for 2028-2034.
- A deal is sought by Christmas, ahead of key elections in France and other EU nations.
- Far-right candidate Marine Le Pen wants to slash France's contribution to the EU budget.
- Germany, the Netherlands, and Sweden are pushing for significant budget cuts.
- France is advocating for a larger budget and new EU-wide taxes.
- Ireland's proposal includes cuts of approximately 140 billion euros.
European Union leaders convened in Brussels on Thursday to negotiate the bloc's next long-term budget, a crucial financial framework for 2028 to 2034. The urgency stems from upcoming elections across the EU, particularly in France, where the prospect of eurosceptic gains, such as those favored by far-right candidate Marine Le Pen, could complicate or derail future agreements. Leaders aim for a deal by Christmas, but divisions persist among member states regarding the budget's size and spending priorities, including agriculture, defense, competitiveness, and migration. Ireland, holding the EU's rotating presidency, has put forward a proposal that includes significant cuts, but it has satisfied none of the main negotiating camps. Germany and its allies advocate for deep austerity, while France pushes for a larger budget and new EU-wide taxes to fund initiatives. The negotiations are further complicated by the looming French presidential and European Parliament elections.