Budget rest from six EU countries: Billion Euro cut demand

The Financial Times newspaper reported that Germany, the Netherlands, Sweden, Denmark, Austria and Finland sent a "threatening" letter to the EU administration.

According to the letter, 6 EU countries, led by Germany, stated that they would reject the EU's 7-year budget between 2028-2034 if "hundreds of billions" of euros were not cut in spending.

The letter stated that the EU budget, which could reach approximately 2 trillion Euros with the proposal of the European Commission, should be "fundamentally reformed".

A diplomat of one of the countries that signed the letter said, "An agreement will not be reached this year unless the budget is reduced by hundreds of billions of euros."

The leaders of the 6 countries believe that resources should be directed to defense needs and support for innovative companies to cope with growing economic challenges and security threats.

The countries in question think that the funds allocated to agriculture and underdeveloped regions, which constitute approximately 2/3 of expenditures within the EU's financial framework, should be reduced.

According to the report, Ireland, which currently holds the EU's rotating presidency, has been tasked with preparing a compromise proposal that could bridge the demands of the biggest donor countries with the demands of the majority of member states, which aim to preserve agricultural subsidies and regional development funds.

The ultimatum to Brussels highlights disagreements over the EU's new spending priorities, including defense spending and support for sectors struggling to cope with competition from China and the United States.

The 6 countries account for approximately 40 percent of the bloc's total budget revenues, which are obtained mainly through contributions from member states.