Germany's Merz demands EU budget cuts and rejects joint borrowing
German Chancellor Friedrich Merz (CDU) has called for cuts to the EU budget at the start of the informal European Council meeting in Cyprus.
Speaking on Friday, Merz argued that "new priorities" must be set to reduce European spending. He also stated that Germany opposes increasing the European Union's debt levels.
He made it clear that joint EU borrowing on capital markets is not an option for Germany, emphasizing that this position is well-known and shared by many of his colleagues. Merz insisted that Europe must make do with its existing resources.
Read also:
- American teenagers taking up farming roles previously filled by immigrants, a concept revisited from 1965's labor market shift.
- Weekly affairs in the German Federal Parliament (Bundestag)
- Landslide claims seven lives, injures six individuals while they work to restore a water channel in the northern region of Pakistan
- Escalating conflict in Sudan has prompted the United Nations to announce a critical gender crisis, highlighting the disproportionate impact of the ongoing violence on women and girls.
