In Brussels, the European Commission's proposal for a budget of 2,000 billion euros over the period 2028-2034, or 1.26% of the wealth produced in the EU, does not satisfy many people. The European budgetary debate also concerns the timetable for the agreement.
What is new this year is that among the countries which want more money for the cohesion of Europe, there is Spain, Italy and Greece, which previously were bad students financially but which today have a completely different credibility. New European taxes would make it possible to reduce national contributions.
These states are in disagreement with the so-called “frugal” countries, led by Germany and the Netherlands, who are defending a reduction in the European Union budget. It is not only in France where it is difficult to find an agreement on the budget.
On this subject, Luxembourg sets its conditions through its representatives. If it is a tax applicable to the entire European Union, and better to all OECD countries, then Luxembourg will not stand in the way.
The rating agency Moody's is expected to downgrade France's financial rating this time, due to the budgetary situation. Political reactions revolve around these tensions, according to which Marine Le Pen wants to reduce France's contribution to the European Union budget.