EU unveils bigger long-term budget but risks fight with farmers
Presenting the $2.3-trillion 2028-2034 budget blueprint to reporters in Brussels, EU chief Ursula von der Leyen said it 'will be the most ambitious ever proposed'.
The plans seek to bolster Europe's security and ramp up its competitiveness, while paying off debts from a massive Covid-era loan as of 2028 — against a backdrop of soaring trade tensions with the bloc's biggest commercial partner, the United States.
The European Commission put 451 billion euros on the table under a broad 'competitiveness' tag that encompasses defence and space — together allocated 131 billion euros, a five-fold increase.
The budget plan earmarks up to 100 billion euros for the reconstruction of war-torn Ukraine — as well as substantial new 'flexibility' funds kept available in event of crises.
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