EU Leaders Fail to Agree on 2028–2034 Budget

Dragon Media News Desk

European Union leaders have failed to reach agreement on the bloc’s 2028–2034 Multiannual Financial Framework (MFF), valued at 1.76 trillion euros, or about 1.97 trillion U.S. dollars. A European source told reporters on the sidelines of the meeting that sharp disagreements had emerged between member states that contribute more to the budget and those that receive funding.

“The leaders have concluded their discussions on the seven-year budget plan. The European Commission’s 1.76-trillion-euro proposal has been rejected, while a proposal to cut the budget by 140 billion euros failed to secure enough support,” the diplomat said.

The leaders will continue discussions at an extraordinary meeting on November 26 in an effort to find a solution, the diplomat added.

Earlier, European Parliament President Roberta Metsola described the divisions between the EU budget’s net contributors and beneficiaries as “unprecedented.”