Economy

Germany and Netherlands Criticize EU Budget: 'Completely Lost Touch with Reality'

NRC·22 September · 17:17·1 day ago

German Minister Gunther Kirchbaum and Dutch officials have criticized European Council President António Costa for proposing a higher EU budget of approximately 285 billion euros annually, arguing it is financially unsustainable. The Netherlands, Germany, Denmark, Finland, Austria, and Sweden are calling for significant budget reductions, while Costa advocates for new EU taxes on items like tobacco to raise 60 billion euros. This dispute highlights the tension between net contributors seeking fiscal restraint and net recipients favoring increased spending. With limited political room for maneuver due to economic pressures and domestic challenges, such as those facing German Chancellor Friedrich Merz, reaching a compromise before the October top remains difficult.

Ozetta summarises; the reporting is the newsroom's

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