Charles Michel proposes EU budget compromise ahead of summit

Irish Times | Feb 14, 2020 at 6:15 PM
  • Hoping to broker a difficult budget compromise between EU net contributors and recipients for next week’s summit, European Council president Charles Michel has proposed a new budget of €1,094 trillion for the next seven years.
  • The large block of “Friends of Cohesion” countries remain adamant that they must be allowed to catch up and that their payments must not be cut.
  • Mr Michel’s proposed compromise, which comes close overall to that proposed by the Finnish presidency before Christmas, creates new opportunities for greater flexibility in the use of cash in both the farm budget and in cohesion funding.