{
  "id": 14836941,
  "title": "Budget showdown slips to November as Costa pushes for quick deal",
  "url": "https://urgent.news/2026/10/16/budget-showdown-slips-to-november-as-costa-pushes-for-quick-deal",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-16T00:56:56.000Z",
  "source": {
    "name": "Politico EU",
    "slug": "politico-eu",
    "url": "https://www.politico.eu/article/budget-showdown-november-antonio-costa-deal-european-council-summit/"
  },
  "original_language": "en",
  "account": "EU leaders face a budget showdown in November as they strive to finalize a deal for the bloc's next seven-year budget by year-end. European Council President António Costa convened an extra summit on Nov. 26 to bridge disagreements and pave the way for a final agreement in December. Costa plans to present updated budget figures at the meeting to bring the parties closer to an agreement.\n\nCosta cautioned that delaying the deadline beyond the end of the year will postpone EU payments to farmers and researchers until January 2028, when the new budget takes effect. Failure to reach a deal in December could push the agreement to May or October 2027, according to his remarks to leaders.\n\nFrench President Emmanuel Macron endorsed Costa's plan, stating he won't have a political mandate to sign a deal near the French presidential elections in April 2027. This shift in stance intensifies pressure on governments to expedite the talks, though some question Macron's intentions. French far-right leader Marine Le Pen has demanded a reduction in France's EU contributions if she wins the presidency, deeming a rushed agreement \"a democratic scandal.\"\n\nThe frugal EU countries, including Germany, Netherlands, Austria, Sweden, Denmark, and Finland, argue that the proposed cuts in the Irish proposal are insufficient. Belgian Prime Minister Bart De Wever echoed this sentiment, jokingly referring to his \"frugality\" in personal life. However, Germany's Chancellor Friedrich Merz, unofficial leader of the frugal camp, acknowledged the Irish proposal's progress while demanding further reductions, particularly in EU payouts to poorer regions versus farmer subsidies.\n\nOn the opposite end, Spanish Socialist Prime Minister Pedro Sánchez argues that the budget is too small, calling it \"a distribution of misery.\" Despite their ideological differences, Sánchez and Italian Prime Minister Giorgia Meloni, as well as the frugal camp, agree that additional cuts to the budget are necessary. Costa aims to advance progress on EU-wide taxes, such as taxes on crypto firms, online gambling, and tech giants, as well as Greek proposal to utilize future sales of 6G mobile spectrum to fund the budget. However, these options face significant opposition, making it a challenging task to reach a consensus.",
  "summary": "Emmanuel Macron gave a big boost to the European Council president's plan to end the negotiations by the end of the year.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}