Budget - Economic and Financial Affairs Council
10 November 2026
Contents updated on 10 Nov 2026
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Council of the European Union European Council
Follow its sittings01:15 - 03:50
Speaker 1
of critical importance for the Council during our negotiations today. Firstly, keeping sufficient margins and flexibility in the budget for next year in these extraordinarily unpredictable times. Secondly, we will carefully assess the appropriate level of payments in the budget without pre-judging the update of member states payments forecasts. Thirdly, on administration, we remain committed to respecting the principle of stable staffing. In addition, we consider it crucial to find redeployments if we eventually were to accept a few targeted increases.
Fourthly, we must respect the agreement of the past two annual budgets regarding the financing of NextGenerationEU interest costs. We cannot renegotiate the 50/50 EURI cascade mechanism. The liquidity management costs of the EURI should be treated as an integral part of the interest costs under the EURI line, as it was the case in past years. And finally, regarding the Ukraine Support Loan instrument, the Council considers that we must abide by the revised MFF regulation, which provides for the instrument to be used only after all other availabilities. Council unanimously agreed this revision with the Parliament's consent only this year.
Again, liquidity management cost here should also be treated as an integral part of the debt service costs. We take note of the first draft conclusions include, among the different elements, a downward adjustment concerning the agricultural reserve. The Council considers this a technical adjustment and not a concession in terms of the budget. The same would have been the case if the adjustment had resulted in increased budgetary needs. I'd also like to reiterate that our responsible and prudent approach is to cover any reinforcements in redeployments.
The Council shares the view in relation to the Neighborhood, Development and International Cooperation Instrument, as well as the humanitarian aid, these are key areas that we need to adequately support in a complex geopolitical context. While we recognize the importance of these areas, we request to moderate the proposed increases and to accept additional funding where it can be financed through redeployments within the existing budget. So, overall, our assessment is that the proposal on the table goes closer to the European Parliament's requests than it does to the Council's. And I'd now like to ask the Commissioner if he wants to briefly present his view on the main issues on the table and included in the first version of the draft elements for joint conclusions.
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