€159 Billion EU Budget Cut Sparks Clash Over Farming, Cohesion Funds and Greece’s Future
Brussels faces a new political showdown as Ireland proposes an 8% reduction in the European Union’s next seven-year budget, seeking to bridge the divide between Germany and countries determined to defend agricultural and regional funding. The Common Agricultural Policy and cohesion spending receive relative protection, but neither escapes cuts. Competitiveness, defence and external action face deeper reductions, while five proposed EU revenue sources could generate €55 billion annually. The October 15–16 European Council summit is shaping up as a crucial test for Greece and the future of European financing.