A marathon EU summit on October 15-16 failed to produce a breakthrough on the European Union’s next long-term budget. Although EU leaders put on a brave face at the end of the talks by saying that “the way forward is clearer”, EU capitals appear deadlocked on what that path is. At stake is the EU’s ability to finance its strategic priorities from 2028 to 2034. The main dividing line is between the so-called “frugal countries”, who want deep cuts to the proposed budget, and the “friends of cohesion”, who say that cuts are not the answer.
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