Ireland proposes a $1.81 trillion EU budget through 2034, which Sweden calls 'wildly unaffordable'
Summary
Ireland proposed a $1.81 trillion EU budget through 2034, a seven-year spending plan that would increase the EU budget by 30%, Fortune reported on October 13, while major contributors are demanding cuts and Sweden called it 'wildly unaffordable'. The LA Times reported that tensions are flaring over the EU's next long-term budget ahead of unpredictable elections in 2027. The EU budget, known as the multiannual financial framework, amounts to around 1.2% of the 27-nation bloc's gross national income and is financed mostly by the member countries based on the size of their economies, according to the LA Times.
Latest: Ireland proposed a $1.81 trillion EU budget through 2034, which would increase the EU budget by 30% and which Sweden called 'wildly unaffordable', Fortune reported, while the LA Times said tensions are flaring over the EU's next long-term budget.
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How it unfolded
Tuesday 13 October
Ireland proposed a $1.81 trillion EU budget through 2034, which would increase the EU budget by 30% and which Sweden called 'wildly unaffordable', Fortune reported, while the LA Times said tensions are flaring over the EU's next long-term budget.