German Chancellor Friedrich Merz has sharply criticized the European Commission's long-term budget proposal for 2028-2034, calling it 'far too high' and demanding a new proposal. Speaking before an EU summit in Brussels on Friday, Merz stated: 'The proposal on the table is far too high. The figures need to be reduced. A new proposal must be put forward.'

The European Commission has proposed a budget of nearly €2 trillion ($2.29 trillion), equivalent to 1.26% of the EU's gross national income on average over the period. Currently, the Commission is debating a 2% reduction in the proposed budget. The EU's long-term budget, also known as the multiannual financial framework (MFF), sets limits on EU investment in different policy areas for at least five years.

Ukrainian President Volodymyr Zelenskyy addressed the summit, calling for fast-track EU membership. 'The future of Europe — free, united, and in peace — is being decided in our defense,' he said. Zelenskyy also warned that Ukraine would need at least 300 missiles if the war continues into winter, and stressed the need for a strong position before any negotiations with Russia.

EU leaders agreed to renew sanctions against Russia for another 12 months. However, Bulgarian Prime Minister Rumen Radev announced his country would veto the latest sanctions package, citing potential negative impacts on Bulgaria's economy, particularly the Lukoil refinery. Radev insisted that Lukoil be excluded from the list.

Several leaders, including those from Latvia, Lithuania, and the Netherlands, expressed skepticism about rushing into talks with Russia. Lithuanian President Gitanas Nauseda said: 'I do not see any positive signals from Russia.' Austrian Chancellor Christian Stocker favored keeping communication lines open but doubted Moscow's willingness for peace.

EU leaders also discussed the growing trade deficit with China, which now amounts to approximately €1 billion per day. In 2025, China's goods trade surplus with the EU reached €360.6 billion, a 15% increase from 2024, raising concerns about dependency and market access.

Source: www.dw.com