This week, Mark Leonard welcomes Guntram Wolf, senior fellow at Bruegel and professor of economics at the Université Libre de Bruxelles, and Pierre Heilbronn, former vice-president of the European Bank for Reconstruction and Development and France’s former special envoy for Ukraine’s relief and reconstruction. Together, they discuss the European debate around the next Multiannual Financial Framework (MFF).
Every seven years, EU member states agree on the MFF—but talks to plan the 2028-2034 edition have created two camps. On one side is the “friends of cohesion”, who want to protect money for poorer regions and farmers. On the other is the “frugals”, net contributors led by Germany that want a smaller budget focused on defence and competitiveness.
On October 10th, the Irish presidency tabled a compromise to cut the commission’s proposal of almost €2 trillion by about 8%, at the cost of competitiveness, foreign aid and emergency funds. It would leave farmer subsidies and cohesion funds untouched, however. EU leaders are now meeting in Brussels on October 15th-16th, with the MFF negotiations expected to reach a decisive phase in the coming weeks.
In this week’s episode, Mark, Guntram and Pierre discuss how the EU budget is put together, and why this round is proving so hard to close. Can the two camps find common ground? Where do negotiations stand today, and what could help clear the way to an agreement? And what is at stake for Europeans competitiveness?
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