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The Economic Times

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Germany demands $450 billion cut to 'unaffordable' EU budget, document shows

Germany is pushing for a massive 400 billion cut to the European Commission's proposed 2 trillion budget for 2028-2034, deeming it unaffordable. As the EU's largest net contributor, Berlin warns that an agreement is currently impossible due to the significant increase from the previous budget. Chancellor Merz is urging member states to finalize a deal this year to provide planning certainty ahead of crucial elections.

30 Jun 2026 4:45 pm