The European Union executive has proposed a two-trillion-euro long-term budget from 2028 to 2034 to address overseas competition and Russian aggression, but Germany immediately opposed it. Germany declared the budget proposal unacceptable, highlighting concerns for national budget consolidation efforts. The budget includes substantial funds to bolster security and competitiveness while seeking to address debts from Covid-era loans. A significant portion of the budget is allocated for the reconstruction of Ukraine, while proposed reforms and tax increases face strong opposition from various stakeholders, including farm unions and German officials.
The European Union executive proposed a two-trillion-euro long-term budget for 2028-2034, focusing on countering overseas competition and Russian aggression, which Germany opposed.
Germany called the proposed $2.3-trillion budget "unable to accept," emphasizing that the comprehensive increase in the EU budget contradicts its national budget consolidation efforts.
The budget allocates 451 billion euros for competitiveness, including a five-fold increase for defense and space, amid rising trade tensions with the U.S.
Proposed reforms to agriculture subsidies face opposition from farm unions, while criticisms arise regarding insufficient funds for climate adaptation within the budget.
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