US EditionEU proposes raising defense funding in 2-trillion-euro budget
BRUSSELS, BELGIUM, JUL 16 – The €2 trillion budget proposal includes a fivefold defense spending increase and up to €100 billion for Ukraine's reconstruction, marking a €600 billion rise over the current framework.
- The European Commission proposed a 2 trillion euro budget for 2028-2034, emphasizing increased defense and strategic investments across the EU.
- The proposal follows heightened concerns about Russian aggression, overseas competition, and the need to boost economic competitiveness within the EU.
- It allocates 131 billion euros to defense and space, a fivefold increase, includes a 451 billion euro competitiveness fund, and sets aside 100 billion euros for Ukraine.
- Ursula von der Leyen characterized the budget as bigger, more intelligent, and more focused, saying it aligns with Europe's goals, addresses its difficulties, and enhances its autonomy, although some leaders argued that the proposed amount was excessive.
- Final approval requires agreement from all 27 member states and the European Parliament, with negotiations expected to be lengthy and politically tense.
137 Articles
137 Articles
EU proposes 'most ambitious' two trillion euros budget, Germany rejects plan
Ursula Von Der Leyen on Wednesday proposed the "most ambitious" €2 trillion ($2.3 trillion) 2028-2034 budget to counter overseas competition and Russian aggression, but Germany, the bloc's top economy, rejected it as unacceptable.
The German government announced that it would oppose the increase in the European budget from 2028 to 2034, set at 2,000 billion euros, proposed on Wednesday by the President of the Ursula von der Leyen Commission. ...
EU Budget Proposal Doubles Ukraine Aid And Boosts Military Spending
The European Commission is proposing a record 2-trillion-euro budget for 2028-2034, boosting funds for Ukraine, defense, and foreign policy. But tough negotiations lie ahead as richer EU states balk at higher spending.
EU budget 2028-2034: Much more money for research and defense, less for agricultural subsidies and more EU-wide taxes: the EU's budget proposal…
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