The leaders of the EU in tough negotiations without agreement on the 2 trillion euros and the new seven-year European budget.

In one of the most critical and politically charged summit meetings of the past few months, European Union leaders found themselves confronted with deep divisions over the new Multiannual Financial Framework, as the discussion on the size and structure of the European budget 2028–2034 is evolving into a complex balancing act between “frugal” and more ambitious member states. The atmosphere in Brussels is marked by intense behind-the-scenes activity and ongoing consultations, with the issue of own resources, as well as new sources of funding for the Union, emerging as a key point of contention that has not yet been resolved.

At the Brussels Summit, the battle over the European budget is being fought today. Member states appear divided on where European funds should be directed over the next 7 years.

A very ambitious budget

According to information cited by ERTnews correspondent Elena Apostolidou, the section concerning the next Multiannual Financial Framework for 2028–2034 has been finalized.

A senior European official who spoke with Elena Apostolidou said that the total budget amount remains under discussion—there is no text of the conclusions. This means they did not agree on the budget amount, which was reportedly 2 trillion euros—a very ambitious budget, which is why there are differing camps. Countries such as Sweden and Germany are calling for it not to be so large, but rather more specific, while other countries are calling for it to be more ambitious.

Also, another fact we know is that this allocation of new own resources must take place. This means that in this budget—and there seems to be a consensus on this— though not on exactly how it will be done—for the first time, the budget will not consist solely of funds contributed by European Union member states, but will also include some revenue.

The big question is: where will they come from? From cryptocurrency taxation? From online gambling taxation? Italy and Spain agree on these points, while some other countries disagree.

We’ll have to wait and see the text of the conclusions, which aren’t expected today, as the main priority is to finalize the budget by the end of the year, if European Union member states want to start receiving funds as early as January 1, 2028.

The Middle East was also on the leaders’ agenda, with European leaders essentially discussing two aspects.

The first concerns the risk of a broader conflagration. They are assessing the implications of the agreement between the two sides, the risks involved, and the role Europe should play, both in energy matters and in terms of energy security implications.

Confusion and frustration have prevailed regarding the communication channels that António Costa is attempting to open with Moscow.

For some, this is perhaps the most significant development to emerge from the Summit so far, as reported by Elena Apostolidou, as the President of the European Council revealed yesterday to the leaders of the member states that he has instructed his office to establish a diplomatic bridge with the Russian side.

As he clarified, this is not about negotiations, but rather an initial bridge of understanding.

There are many countries that are reacting negatively even to this move, while other countries disagree with the European Council President himself.

The Prime Minister Arrives at the Summit with a Specific Agenda

Kyriakos Mitsotakis arrived in Brussels having clearly articulated Greece’s positions on a European budget that will, if nothing else, the aspirations of all member states, as reported by the ERTnews correspondent in the Belgian capital, Dimitris Gatsios.

In discussions with government officials, what they told ERTnews is that the proposal submitted by the Cypriot Presidency serves as a basis for discussion, as it is the first to come to the fore with specific figures.

In any case, the Cypriot Presidency has not yet given the green light for the new Multiannual Financial Framework.

Over the next two weeks, we will transition to the Irish Presidency, where negotiations are expected to continue, as Antonio Costa’s goal is to have them completed by December 31, 2026.

The Prime Minister’s positions on two important issues are also well-established and clearly articulated.

The first issue is the protection of funds related to cohesion and the Common Agricultural Policy.

A second message conveyed by Athens is to ensure that the next chapter of European competition does not act as a runaway train that will widen the gaps between member states.

Athens continues to seek European funding for major priorities, such as security and energy, ahead of the summit.

There was also a mini-summit of 19 European Union leaders focused on migration. Kyriakos Mitsotakis also participated in this summit.