At the start of the informal European Council meeting in Cyprus, German Chancellor Friedrich Merz (CDU) spoke out in favor of significant cuts to the EU budget. Merz announced that new priorities must be established to reduce the overall expenditure of the European treasury. He further emphasized that Germany rejects the idea of the European Union taking on greater debt. The CDU politician stressed that European bonds issued on the capital market are not an option for Germany, noting that this stance is well-known and shared by many of his colleagues. Merz concluded by maintaining that Europe must manage using its currently available funds.
Politics
