The European Union needs to significantly increase its budget if it wants to deal with the challenges of the 21st century, an EU official told Sputnik on Friday amid ongoing budget talks
BRUSSELS (Pakistan Point News / Sputnik - 21st February, 2020) The European Union needs to significantly increase its budget if it wants to deal with the challenges of the 21st century, an EU official told Sputnik on Friday amid ongoing budget talks.
The negotiations between the EU heads of state on the next seven-year budget begun on Thursday, and are being chaired by European Council President Charles Michel.
"A substantial budget increase is the most reasonable option for building a Europe that is capable of tackling the challenges of this century," an official.
Last Friday, the EU put forward a budget proposal asking for over 1.09 trillion Euros ($1.18 trillion), which accounts for 1.074 percent of the bloc's gross national income (GNI). These demands, however, are opposed by the so-called frugal four � Austria, Denmark, the Netherlands, and Sweden � who are trying to limit the budget to 1 percent of the GNI.
