Germany wants to cap next EU budget at 1% of GDP - Reuters

Market news

16 September 2019

Germany wants to cap next EU budget at 1% of GDP - Reuters

Reuters quotes German diplomatic sources as saying that Germany wants to limit the bloc’s next budget for 2021-27 at 1% of the bloc’s economic output, below the 1.11% proposed by the executive European Commission.

Sources added that the biggest net contributor to the bloc’s joint coffers - would present the proposal to fellow ministers on Monday.

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