Cyprus proposes €32.8bn cut to next EU budget as compromise between rival camps
Cyprus, currently holding the rotating presidency of the Council of the EU, has put forth a provocative proposal to slash the bloc's ambitious €2 trillion draft budget for 2028-2034 by €32.8 billion, or approximately 2%. This 'negotiating box,' unveiled on Thursday, June 11, 2026, aims to bridge the deep chasm between fiscally conservative 'frugal' nations and those prioritizing cohesion and agricultural spending, setting the stage for intense and potentially fraught negotiations at the upcoming EU summit on June 13-14.














