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World

EU BUDGET 21. 02. 2020.   >>  14:32 0

EU BUDGET

Negotiations are not progressing, probable new summit

Major contributors to the European Union’s budget blocked progress at an emergency summit, insisting that they would not stump up more funds for the bloc’s next long-term spending package, worth around one trillion euros.

The so-called “Frugal Four” of Austria, Denmark, the Netherlands and Sweden believe the EU’s 2021-2027 budget, which is meant to fund ambitious climate change and digital economy policies, should amount to 1% of the 27-nation trading bloc’s gross national income.

EU Council President Charles Michel, who met with EU leaders throughout the night trying to broker a compromise, has tabled a draft budget of 1.074% of GNI. The European Parliament wants an ambitious 1.3%, while the EU’s powerful executive arm, the European Commission, prefers 1.11%.

“I can understand that when you’re a prime minister in a country that has poor regions, infrastructures, I can understand that … but when it comes to the percentage, I stand firm,” Danish Prime Minister Mette Frederiksen told reporters in Brussels Friday.

 

Asked whether the standoff can be resolved, Frederiksen said “no, I don’t think so. I’m willing to stay, and I’m prepared to stay the whole weekend. But no, I don’t think we’re going to reach an agreement.” She said that another summit would be required, probably in early March.

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