Workers on a platform put up the new poster announcing the start of the Irish presidency.Nicolas Tucat/AFP via Getty Images

EU budget slashed by €159B in new Irish proposal – POLITICO

by · POLITICO

BRUSSELS — The bloc’s next seven-year budget suffered a €159 billion cut from the Commission's original proposal, according to a new plan unveiled Saturday.

The Irish presidency of the Council of the EU, which is steering the talks, proposed cutting around 8% to the bloc’s total budget from 2028 to 2034 to appease a German-led camp demanding major cuts.

The Irish negotiating document, or negobox, envisages cuts of €122 billion in current prices from the previous negobox presented by the Cyprus presidency in June. It sets the scene for fraught discussions among the EU’s 27 leaders during a summit next week.