European Commission President Ursula von der Leyen has unveiled a bold €2 trillion (about $2.3 trillion) EU budget proposal that includes new taxes on large corporations, tobacco, and electronic waste—setting the stage for intense political battles over the bloc’s financial and strategic priorities.
The plan aims to reshape Europe’s financial future, increasing defence spending fivefold, tripling border and migration funding, and doubling research investments—35% of which would go to climate and biodiversity efforts.
“It is a €2 trillion budget for a new era ... that confronts Europe’s challenges, that strengthens our independence,” she told reporters at a news conference.
A €100 billion (around $116 billion) fund is also earmarked for Ukraine, labelled by the EU's Budget Commissioner Piotr Serafin, as the EU's “most strategic partner.” But backlash followed swiftly.
Environmental groups and Green MEPs criticized the elimination of the only dedicated nature protection fund, calling it a dangerous move amid the biodiversity crisis.
Farmers and members of the European Parliament were similarly alarmed by a proposed merger of flagship policies such as agricultural and regional funds, warning of severe risks to farming stability.
However, EU officials argued that €300 billion (around $349 billion) in direct payments to farmers remain untouched.
Von der Leyen said the new taxes would ease pressure on national budgets, but countries such as Germany, the Netherlands, and Sweden criticized the plan as too costly.
Adding further tension, Hungary’s Prime Minister Viktor Orbán condemned the proposed Ukraine funding, insisting EU support should focus on farmers.
From 2028, the EU must start repaying its €750 billion ($872 billion) pandemic recovery loans, costing up to €30 billion ($35 billion) annually—double the current research budget.
The proposal requires unanimous approval from all 27 member states and the European Parliament.
U.S. intelligence sources indicate that Russian President Vladimir Putin still intends to take control of all of Ukraine and reclaim parts of Europe t...
AnewZ has premiered The Oligarch’s Design, a long-form investigative documentary marking the launch of AnewZ Investigations, the channel’s new edi...
UN Secretary-General Antonio Guterres has issued a stark warning over the humanitarian situation in the Gaza Strip....
The United States says it is working to secure a renewed ceasefire between Thailand and Cambodia, expressing cautious optimism that an agreement could...
Uzbek President Shavkat Mirziyoyev’s official visit to Tokyo represents more than a strengthening of bilateral relations; it is a strategic step tha...
Thousands of Bulgarians took to the streets on Thursday evening to protest against the outgoing government, demanding fair elections and judicial reforms to address what they describe as widespread corruption.
Ukraine has welcomed the European Union’s decision to provide €90 billion in support over the next two years, calling it a vital lifeline even as the bloc failed to reach agreement on using frozen Russian assets to finance the aid.
European Union leaders on Thursday denounced a wave of hybrid attacks against the bloc, attributing them to Russia and Belarus, and called for stronger measures to protect critical infrastructure and enhance resilience.
Ukraine has welcomed the European Union’s decision to provide €90 billion in support over the next two years, calling it a vital lifeline even as the bloc failed to reach agreement on using frozen Russian assets to finance the aid.
European Union foreign policy chief Kaja Kallas has warned that attempts to reach a peace agreement in Ukraine are being undermined by Russia’s continued refusal to engage meaningfully in negotiations.
Petroleum products are being transported by rail from Azerbaijan to Armenia for the first time in decades. The move is hailed as a tangible breakthrough in efforts to normalise relations between the long-time rivals.
Chinese Foreign Minister Wang Yi has held a phone conversation with his Venezuelan counterpart Yvan Gil at the latter’s request.
A rare pair of bright-green Nike “Grinch” sneakers worn and signed by the late NBA legend Kobe Bryant have gone on public display in Beverly Hills, ahead of an auction that could set a new record for sports memorabilia.
U.S. intelligence sources indicate that Russian President Vladimir Putin still intends to take control of all of Ukraine and reclaim parts of Europe that once belonged to the Soviet Union. These assessments contradict Putin’s repeated claims that he poses no threat to Europe.
UN Secretary-General Antonio Guterres has issued a stark warning over the humanitarian situation in the Gaza Strip.
The United States says it is working to secure a renewed ceasefire between Thailand and Cambodia, expressing cautious optimism that an agreement could be reached early next week, Secretary of State Marco Rubio said on Friday.
Iran has called for greater international support in hosting millions of Afghan refugees, warning that it is becoming increasingly difficult to manage the long-term humanitarian burden without a fair sharing of responsibilities.
Ukraine has carried out its first aerial drone strike on a Russian “shadow fleet” oil tanker in the Mediterranean Sea, reflecting a growing intensity in Kyiv’s attacks on Russian oil shipping, officials said on Friday (19 December).
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment