Post by Eurosif - The European Sustainable Investment Forum

📢𝗧𝗵𝗲 𝗖𝘆𝗽𝗿𝗶𝗼𝘁 𝗣𝗿𝗲𝘀𝗶𝗱𝗲𝗻𝗰𝘆 𝘂𝗻𝘃𝗲𝗶𝗹𝘀 𝘁𝗵𝗲 𝗳𝗶𝗿𝘀𝘁 𝗡𝗲𝗴𝗼𝘁𝗶𝗮𝘁𝗶𝗻𝗴 𝗕𝗼𝘅 𝗼𝗻 𝘁𝗵𝗲 𝗻𝗲𝘅𝘁 𝗘𝗨 𝗯𝘂𝗱𝗴𝗲𝘁 After months of negotiations among the 27 Member States, the Cyprus Presidency has presented the so-called “𝗻𝗲𝗴𝗼 𝗯𝗼𝘅”, the first negotiating document with figures which will serve as the basis for negotiations on the next EU Budget. 👉 Overall, the nego box proposes a 𝟮% 𝗰𝘂𝘁 in the overall budget compared to the Commission’s proposal – setting the new overall budget at €1.94 trillion (in current prices). This is however unevenly distributed across the four headings of the next 𝗘𝗨 𝗠𝘂𝗹𝘁𝗶𝗮𝗻𝗻𝘂𝗮𝗹 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗙𝗿𝗮𝗺𝗲𝘄𝗼𝗿𝗸 (#MFF). 🔎The Cyprus Presidency applied its biggest cuts – around 4% – to the 𝗘𝘂𝗿𝗼𝗽𝗲𝗮𝗻 𝗖𝗼𝗺𝗽𝗲𝘁𝗶𝘁𝗶𝘃𝗲𝗻𝗲𝘀𝘀 𝗙𝘂𝗻𝗱 (#ECF), the second pillar of the next MFF and a key vehicle for EU-level investment towards defence and competitiveness. As a result, the ECF would then be reduced to approximately €225 billion (in current prices). The Cyprus Presidency seems to be giving considerable weight to the demands of the “𝘧𝘳𝘪𝘦𝘯𝘥𝘴 𝘰𝘧 𝘤𝘰𝘩𝘦𝘴𝘪𝘰𝘯”, a group of 16 EU member states that asked for a limited budget reduction, at odds with the 𝘧𝘳𝘶𝘨𝘢𝘭 𝘴𝘵𝘢𝘵𝘦𝘴 (Austria, Sweden, Germany, and Denmark) calling for an even more significant reduction of the overall MFF envelope. 📅Ministers will then take over discussions at next week's General Affairs Council, before EU leaders have their opportunity to address the issue at the next European Council Summit on 18-19 June. 🔗Read the proposed negotiating box here: https://lnkd.in/eA4gJRqi