Brussels Playbook Podcast The €2 trillion question: Inside the battle over the EU's budget
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Jul 18, 2025 Join financial services reporter Gregorio Sorgi, alongside trade reporters Camille Gijs and Ari Hawkins, as they delve into the maze of the EU's ambitious €2 trillion budget proposal. They discuss the fierce competition among member states for funding and the stark cuts to agricultural spending. The conversation shifts to the impending trade tensions as Donald Trump threatens hefty tariffs on EU exports, leaving Brussels in a tough spot—retaliate or capitulate? Tune in for insights into these critical issues facing the European Union.
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Budget Figure Confusion Explained
- The headline €2 trillion budget includes post-COVID debt repayments that do not go to beneficiaries.
- The final budget increase compared to previous MFF is modest and likely to be negotiated down further.
Emerging Budget Divide
- Future budget fights will pit richer Northern countries favoring competitiveness funds against poorer Eastern countries defending agriculture and cohesion.
- This reflects evolving economic priorities and geographic interests within the EU.
Focus on Small Farmers
- The EU proposes redirecting more agricultural funds toward small, young, and women farmers.
- However, these reforms may face difficulties in negotiation and implementation among member states.