European budget: the Twenty-Seven prepare for the showdown

The President of the European Council, Charles Michel, unveiled the framework on Friday which will serve as a basis for discussion for the 27 when they meet in Brussels on Thursday for an extraordinary summit devoted to the European budget for the next seven years.

The former Belgian Prime Minister proposes to increase the European budget from 1,082 billion euros over the current period to 1,094 billion (constant 2018 prices), or 1.074% of gross national income. This is less than desired by the Commission, which counted on 1.114% and far below the 1.3% desired by elected officials in Strasbourg. Charles Michel carried out numerous rearrangements and wanted to be creative. The new EU priorities are thus boosted. A capital increase of the European Investment Bank is suggested to increase the investments (public and private) necessary to fight against global warming and the digital transition by 500 billion euros.

Read also: Battle over the European budget

To compensate for the departure of the British,

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