Germany Calls for Major Cuts to EU Budget
German Chancellor Friedrich Merz called for hundreds of billions of euros in cuts to the European Commission proposed long term budget. He argued the plan is unaffordable as member states face domestic spending restraint and urged a shift toward competitiveness and defense.
Germany called for hundreds of billions of euros in cuts to the European Commission's proposed long-term budget on Wednesday. The proposed €2 trillion ($2.33 trillion) spending plan marks a 60% increase over the current seven-year framework. Berlin argues the spending hike is unaffordable while member states enforce domestic fiscal restraint.
