The European Parliament may not approve the EU's long-term budget for the first time

For the first time in history, the European Parliament may not approve the long-term union budget of about 2 trillion euros agreed upon by the leaders of the EU countries, around which serious disagreements have already arisen between states and political groups, Rapporteur reports.

“Parliament’s consent absolutely cannot be taken for granted. I think at this stage they underestimate the problems that may arise with obtaining parliament’s consent,” Johan van Overtveldt, head of the budget committee of the European Parliament and former Belgian Finance Minister, told the publication.

The European Parliament has so far never rejected a compromise on a multi-year budget previously agreed upon by EU leaders. However, for its approval an absolute majority is required - at least 361 votes of deputies in support.

According to Overtveldt, getting the necessary votes has become more difficult due to the increased fragmentation of the European Parliament.

One of the leading budget negotiators, Siegfried Muresan, previously noted that the parties in the governments of all 27 EU countries together have only 270 seats in the European Parliament.

In April, the parliament’s compromise position was adopted by only 370 votes against 201, that is, only nine votes more than the absolute majority required for future approval of the budget.

Additional disagreements are caused by the size of expenditures of the new budget. The European Parliament is demanding that it be increased compared to the European Commission's proposal, while Germany, Austria, the Netherlands and other austerity advocates are seeking a reduction of several hundred billion euros.

Disputes continue within the European Parliament itself, in particular regarding agricultural financing. As Rapporteur notes, after more than a year of negotiations, deputies have still not been able to develop a common position on this issue.

“Reaching an agreement in December, although desirable, will not be the end of the process. The next stage will be a crisis with the European Parliament,” one EU diplomat told the publication.

EU leaders expect to agree on a multi-year budget for 2028-2034 of about 2 trillion euros by the end of 2026. For its entry into force, the consent of the European Parliament will be required.