EU leaders will discuss a reduced budget at next week’s Brussels summit after negotiators, under pressure from some member states, sharply trimmed the European Commission’s original €2 trillion plan. Ireland, holding the rotating presidency, on Saturday proposed a compromise for the next seven‑year budget that cuts roughly €160 billion (about $179 billion), equal to €141 billion in nominal terms — a reduction of about 8% from the initial proposal — opening the next phase of negotiations, Ireland

EU leaders will discuss a reduced budget at next week’s Brussels summit after negotiators, under pressure from some member states, sharply trimmed the European Commission’s original €2 trillion plan. Ireland, holding the rotating presidency, on Saturday proposed a compromise for the next seven‑year budget that cuts roughly €160 billion (about $179 billion), equal to €141 billion in nominal terms — a reduction of about 8% from the initial proposal — opening the next phase of negotiations, Ireland’s European affairs minister Thomas Byrne said.