EU nears decision on nearly 2 trillion euro budget amid East-West divide

European Union leaders are nearing a decision on the bloc's next multi-year budget, a financial package totaling nearly 2 trillion euros. The upcoming decision at the EU summit requires significant political creativity as member states' interests remain divided.

Concerns are rising among eastern EU nations. They fear that a 400-billion-euro fund designated for competitiveness will disproportionately benefit strategic companies and research institutes located in wealthier parts of Europe. This potential imbalance could exacerbate existing economic disparities within the bloc.

In response to growing trade imbalances with China, EU leaders have directed the European Commission to devise strategies. These strategies aim to protect the EU's interests and mitigate risks stemming from what they perceive as unfair business practices by China, including the use of subsidies and protectionist measures. The Commission is expected to develop tools to counter these challenges and ensure a more level playing field for European businesses.