Earlier this month, Ursula von der Leyen presented the European Commission’s proposal for the Multiannual Financial Framework (MFF) for the period 2028-2034. The MFF proposal, worth € 2 trillion, of which € 200 billion should be dedicated to the Global Europe instrument to finance the Union’s external commitments, is subject to change, but it has already sparked a fierce debate.
According to the rules, in order for the new EU budget to be adopted, it needs to be supported of the EU member states, and then the approval of the European Parliament. Negotiations on this topic are expected to continue for the next two years.
