German Chancellor Friedrich Merz is threatening to block the European Union’s new budget for 2028–2034 unless all EU member states commit to providing financial support to Ukraine, the Financial Times reports, citing a letter from Merz to European Council President António Costa.
"German Chancellor Friedrich Merz has warned that he will block the EU’s next seven-year budget if all member states do not commit to providing financial support to Ukraine in 2027 and beyond," the article states.
The newspaper noted that Merz’s statement comes against the backdrop of an upcoming meeting of European leaders in Dublin this week. The German Chancellor insists that the issue of a funding shortfall for Kyiv must be addressed on the sidelines of this meeting.
Meanwhile, Kyiv has stated that it requires additional financing to cover its budget deficit—estimated at 70 billion euros—for the coming year. The EU has pledged to cover two-thirds of that amount, and the European Commission is currently working on options to fulfill this promise.
The publication noted that Hungary, Slovakia, Bulgaria, and the Czech Republic have already announced that they will no longer provide financial aid to Kyiv.
In this regard, Merz stated in his letter that a solution supported by all member states must be found to ensure long-term funding for Ukraine from 2028 onwards. Merz also pointed out that this solution should include the payment of interest on existing debt related to Kyiv.
The European Commission has presented a draft for a new seven-year EU budget for 2028–2034, totaling approximately two trillion euros and providing for increased spending on defense, competitiveness, and support for Ukraine.
The proposals have sparked disagreements among EU member states regarding the size of the budget, the allocation of funds, and the introduction of new revenue sources.
Source of information: Global News Agencies including REUTERS / TASS / AFP / ANADOLU / INT.RU / Al Jazeera / CNN
Friedrich Merz has threatened to block the EU budget for 2028–2034 due to disagreements over funding for Ukraine, the Financial Times reports.
ReplyDeleteThe chancellor is demanding an agreement on aid to Ukraine during a meeting of EU leaders in Dublin on November 13. Kyiv has requested an additional €70 billion to cover its budget deficit in 2027, with the European Union prepared to cover approximately two-thirds of that amount.
Hungary, Slovakia, Bulgaria, and the Czech Republic oppose further funding for Kyiv. All four countries have also declined to participate in a previously agreed-upon €90 billion EU loan package.