Costa calls November summit to seek year-end EU budget deal
Macron backed the December deadline, saying he would lack a mandate to approve an agreement close to France’s April 2027 presidential election.
European Council President António Costa has called an extra meeting of EU leaders for 26 November to narrow divisions over the bloc’s next seven-year budget, with agreement sought in December. An EU official said Costa would put forward revised budget figures ahead of the gathering.
At a summit in Brussels, Costa warned that missing the year-end target would push payments to farmers and researchers beyond 1 January 2028, the planned start of the new budget. Two EU diplomats briefed on the talks said he cautioned that elections could postpone an agreement until May or October 2027.
French President Emmanuel Macron supported the timetable, telling other leaders he would not have a political mandate to approve a deal near France’s presidential election in April 2027. France had previously resisted committing to a December deadline. French far-right leader Marine Le Pen, meanwhile, renewed her call to halve the country’s EU budget contributions if she wins the presidency.
Germany, the Netherlands, Austria, Sweden, Denmark and Finland have publicly argued that proposed cuts of €159 billion under an Irish plan are insufficient. According to two EU diplomats, German Chancellor Friedrich Merz nevertheless acknowledged progress in the proposal and identified funding for poorer regions, rather than farm subsidies, as an area for further reductions.
Spanish Prime Minister Pedro Sánchez argued that the budget was too small, while Italian Prime Minister Giorgia Meloni rejected additional cuts. Costa pledged to pursue EU-wide revenue sources to lower national contributions. Options he will examine include European Parliament proposals to tax crypto firms, online gambling and technology giants, alongside a Greek proposal to direct proceeds from future national 6G spectrum sales into the EU budget.
