The 27 EU nations are wrangling over the bloc's 2028-2034 budget
German Chancellor Friedrich Merz urged the European Union on Thursday to reform its budget to include more investments and reduce subsidies, but rejected any joint borrowing by EU nations to do so.
The 27 EU nations are wrangling over the bloc’s 2028-2034 budget, with so-called frugal nations like Germany and the Netherlands opposing a big increase in spending proposed by the bloc’s executive Commission.
“We cannot meet the challenges of the 21st century with a 20th-century budget,” the conservative leader declared in Aachen, Germany, in a speech at the ceremony awarding the Charlemagne Prize to former European Central Bank president Mario Draghi.
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