Cyprus urges EU to agree budget by year-end — Cyprus Mail
Cyprus has urged the European Union to reach a political agreement by the end of the year on the next multiannual financial framework — the EU’s long-term budget for 2028–2034. Victor Papadopoulos, director of the Cypriot president’s press office, told Cyprus Mail that the agreement must be concluded in November or December because of France’s presidential election scheduled for April next year.
According to him, French President Emmanuel Macron told other EU leaders that Paris would not be able to agree to a budget deal after December. He explained this by the political sensitivity of the issue ahead of the election.
Extraordinary summit in November
European Council President António Costa believes that a basic agreement can be reached at an extraordinary European Council meeting on November 26–27. He said he is working to achieve an agreement during the November meeting or at least to find a common position.
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The talks may be complicated by Spain’s early parliamentary election scheduled for November 29, as well as elections in Poland, which must take place no later than November. Cypriot President Nikos Christodoulides previously noted that everyone had expected to finalize a political agreement by the end of the year, but the election in Spain could make this more difficult.
Budget may be reduced
According to Christodoulides, the new multiannual financial framework may be more than 10% smaller than the European Commission’s initial proposal. In July last year, the Commission proposed a budget of €1.76 trillion. The Cypriot government proposed €1.73 trillion in June, while the Irish government proposed €1.62 trillion, which is 8% less than the European Commission’s initial proposal.
During negotiations on the previous multiannual financial framework, EU leaders reached an agreement in July 2020, while final approval by member states and the European Parliament took place in December of the same year.
