clearn.png
Thursday December 3rd, 2020 12:05AM

EU chief unveils budget plan setting scene for tense summit

By The Associated Press
Related Articles
  Contact Editor

BRUSSELS (AP) — The European Council president unveiled Friday his proposal for the EU’s next long-term budget, but the figure falls far short of the demands of Europe’s parliament, which must ratify the spending package, setting the scene for tense negotiations.

Charles Michel’s proposal to set the 2021-2027 budget at just over 1.07% of EU gross national income is also likely to upset the leaders of some of the 27 member countries, meaning that an emergency summit on the budget set for Thursday could turn into a long and tortuous affair.

Europe’s coffers will shrink with Britain having left the bloc at the end of January. But the new officials who took over leadership of the EU’s main institutions since last year, including Michel, have set ambitious spending targets on climate, the digital economy and research.

Michel’s offer falls some 240 billion euros ($260 billion) short of the demands of the European Parliament, which wants a budget of 1.3% of gross national income. Some EU member states want to go as low as 1%.

The EU’s powerful executive arm, the European Commission, has proposed that countries should contribute 1.11% of gross national income. This would generate an overall budget of 1.135 trillion euros ($1.25 trillion) for the seven-year period.

“Now it is time to close a deal,” a senior EU official said Friday as he briefed reporters on Michel’s proposal, and underlined that negotiations on this package have already dragged on for almost two years. He said that Michel and his team arrived at the numbers after talks with all national leaders, some meetings lasting up to three hours.

The official, who spoke only on condition of anonymity in line with his post's requirements, said that the offer is “an attempt at putting the cursor in the middle of where we believe there is the biggest chance of finding a compromise.”

The EU money is used for a variety of purposes, from transport and energy policy, to space programs, migration and border management, security and farm subsidies. Under the latest offer, spending on farm subsidies would drop, which could upset France, a major beneficiary.

Money aimed at bringing Europe’s poorer regions up to speed with the rest of the bloc would also be reduced.

EU Parliament President David Sassoli drew a red line on Wednesday, saying that lawmakers are keen to reach an agreement with member countries but that “if they refuse to move and accept Parliament’s positions then we will go all the way and reject the new long-term EU budget."

“These are not just abstract figures but have real consequences for the lives of all Europeans," he said.

  • Associated Categories: Associated Press (AP), AP Online Headlines - Washington, AP Online Congress News, AP World News, AP Business, AP Business - Economy
© Copyright 2020 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
EU chief unveils budget plan setting scene for tense summit
A top European Union official unveiled Friday his proposal for the bloc's next long-term budget
11:16AM ( 8 minutes ago )
Cruise stranded by virus fears ends with roses in Cambodia
Hundreds of cruise ship passengers long stranded at sea by virus fears have finally disembarked in Cambodia, where they were welcomed by the nation's authoritarian leader who handed them flowers
11:05AM ( 19 minutes ago )
Negative interest rates turn saving, borrowing upside down
These are strange times for borrowers and savers
10:59AM ( 25 minutes ago )
Associated Press (AP)
Florida 'red flag' gun law used 3,500 times since Parkland
A Florida law that allows judges to bar anyone deemed dangerous from possessing firearms has been used 3,500 times since its enactment after a 2018 high school massacre
10:07AM ( 1 hour ago )
Trump ignores AG Barr's request to stop tweeting about DOJ
President Donald Trump is ignoring his attorney general's public request to stop tweeting about the Justice Department
9:50AM ( 1 hour ago )
Facebook to allow paid political messages that aren't ads
Facebook has decided to allow a type of paid political message that had sidestepped many of the social network's rules governing political ads
9:38AM ( 1 hour ago )
AP Online Headlines - Washington
In 2 years, Florida 'red flag' law removes hundreds of guns
A Florida law that allows judges to bar anyone deemed dangerous from possessing firearms has been used 3,500 times since its enactment after a 2018 high school massacre
1:50AM ( 9 hours ago )
Warren has raised $6M since Iowa, says race is 'wide open'
Elizabeth Warren says she's raised about $6 million from online donors since last week's Iowa caucuses, fueled by people who want to see her stay in the Democratic presidential primary despite an underwhelming performance there and in New Hampshire
9:40PM ( 13 hours ago )
New Mexico bid for recreational marijuana is all but doomed
New Mexico's bid to become the 12th U.S. state to legalize recreational use of marijuana abruptly fell flat after state senators in a legislature dominated by Democrats rejected a bill that would have forced permission for sales in all of the state's cities and towns
7:49PM ( 15 hours ago )
AP Online Congress News
US retail sales up a modest 0.3% in January
US retail sales up modest 0.3% in January, boosted by strong sales at furniture and hardware stores
10:14AM ( 1 hour ago )
US stocks rise slightly, on track for weekly gains
Stocks are opening mostly higher on Wall Street, with technology and retail companies leading the gainers
9:53AM ( 1 hour ago )
Cyprus struggles to ease problem of bad loans
Defaulted loans are a prime economic issue for Cyprus, which since a 2013 financial crisis has seen overdue payments weighing on consumers and banks
9:28AM ( 1 hour ago )
AP Business
Global shares steady but virus concerns keep buying in check
Global shares have recovered their poise, though continuing concerns about the economic impact of the virus outbreak that began in China is keeping market gains in check
8:06AM ( 3 hours ago )
RBS changes name to NatWest in bid to shed legacy of bailout
The majority state-owned U.K. bank RBS has announced a name change as it tries to leave behind its near-collapse during the 2008 financial crisis
5:57AM ( 5 hours ago )
German economy stagnates in sign of Europe's difficulties
Germany’s economy stagnated at the end of the year with zero growth in the fourth quarter
5:47AM ( 5 hours ago )
AP Business - Economy
Cruise stranded by virus fears ends with roses in Cambodia
Hundreds of cruise ship passengers long stranded at sea by virus fears have finally disembarked in Cambodia, where they were welcomed by the nation's authoritarian leader who handed them flowers
11:05AM ( 19 minutes ago )
Negative interest rates turn saving, borrowing upside down
These are strange times for borrowers and savers
10:59AM ( 25 minutes ago )
Facebook reverses on paid political messages that aren't ads
Facebook has decided to allow a type of paid political message that had sidestepped many of the social network's rules governing political ads
10:52AM ( 32 minutes ago )
US's Pelosi urges countries to steer clear of Huawei for 5G
U.S. House Speaker Nancy Pelosi has appealed to an audience in Germany for countries to steer clear of Chinese tech giant Huawei as they build their next-generation cellular networks
10:39AM ( 45 minutes ago )
Pompeo, Esper meet Afghan president on cusp of Taliban deal
U.S. Secretary of State Mike Pompeo and Defense Secretary Mark Esper have met with Afghanistan's President Ashraf Ghani amid signs a truce between the United States and the Taliban is imminent
10:36AM ( 49 minutes ago )