Leyen Says EU Budget Needs Overhaul
(MENAFN) European Commission President Ursula von der Leyen has expressed serious concerns about the current structure of the European Union’s financial plan, saying it no longer aligns with today's dynamic global situation.
Speaking at the Annual EU Budget Conference in Brussels, she highlighted that the existing budget was crafted for a world that has significantly changed, particularly with increasing international tensions and evolving trade dynamics.
"Today, geopolitical tensions rise. Trade rules are being re-written. Extreme weather events are more and more frequent due to climate change. And the change in technologies is faster than ever. The ‘new normal’ is anything but normal," von der Leyen remarked, painting a picture of a rapidly changing global environment.
Her message was clear: the EU must adapt its financial tools to this new reality.
She pointed out that the current financial framework was put together in 2019 and 2020—a time very different from the present.
According to von der Leyen, this outdated model lacks the adaptability needed to address contemporary issues effectively. She stressed the importance of having a budget that is more versatile, quick to react, and capable of meeting unforeseen demands.
Von der Leyen also underlined that the EU budget is more than just a collection of large figures and technical guidelines; it has real-world consequences, directly impacting the welfare and economic security of EU citizens. It plays a vital role in shaping everyday lives across the continent.
Reflecting on recent years, she mentioned how the EU continually tested the boundaries of the current budget's capabilities during times of crisis.
In each emergency, lengthy discussions were held to determine how existing funds could be redirected to meet urgent needs.
She recalled how, during the COVID-19 lockdowns and the following economic crisis, the EU mobilized resources under a special fund designed to support member nations.
These emergency allocations were instrumental in bolstering economic revival and ensuring energy stability throughout the Union.
In essence, von der Leyen made a strong case for reshaping the EU’s financial approach, urging a move towards a more flexible and forward-looking budget system that can handle the unpredictability of the modern world.
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