🇪🇺 Six EU states threaten to block bloc's budget unless "hundreds of billions" are cut

The leaders of Germany, the Netherlands, Sweden, Denmark, Austria and Finland have warned they will reject the EU's next seven-year budget (2028–2034) unless spending is slashed by "hundreds of billions" of euros, the Financial Times reports.

In a joint letter, Merz and his five counterparts demand the budget be "fundamentally reformed," with money redirected toward defence and innovation. To pay for it, they want to cut funding for farmers and poorer member states, which traditionally take up around two-thirds of the EU budget.

The European Commission's proposal currently stands at close to €2 trillion. The budget requires unanimous approval, and the six signatories provide roughly 40% of EU budget revenue.

Ireland, which holds the rotating EU presidency, is due to present a compromise proposal in October. Poorer states in Southern and Eastern Europe, who stand to lose the most, are expected to fight the cuts hard.

Guns over farmers. Brussels' priorities are becoming clearer by the day.

🔴 @DDGeopolitics