Bundeskanzler Friedrich Merz and EU counterparts from Denmark, Finland, the Netherlands, Austria, and Sweden convened to discuss the next Multiannual Financial Framework (MFR) for 2028-2034. The group emphasized the need for realism, reforms, and financial sustainability, rejecting proposals for a 60% budget increase deemed unaffordable amid national austerity. Participants called for cuts of hundreds of billions across all areas, stressing the importance of prioritizing competitiveness, security, and Ukraine support. They also highlighted the necessity of efficient spending and structural reforms to ensure the EU budget aligns with 21st-century challenges. The leaders aim to finalize the agreement by year-end 2026, balancing growth with fiscal responsibility. The group, covering 40% of the EU budget, reiterated their commitment to a sustainable and effective financial framework.
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