European Council President Antonio Costa Calls for EU Budget Agreement by Year End

European Council President Antonio Costa stated at the Forum Teha Ambrosetti in Cernobbio that the European Union must reach an agreement on its next budget by the end of the year. Costa warned that the EU cannot risk an interruption of funds in 2028. He described the upcoming budget as a political choice rather than a mere set of numbers, arguing that it must reflect the ambitions of the current historical moment.

According to Costa, the new budget should prioritize competitiveness, industrial transformation, defense, security, and strategic resilience. He emphasized that these new priorities must coexist with continued support for agricultural and cohesion policies, which he called pillars of regional development and shared prosperity. To achieve this, Costa called for a balanced and ambitious package of new resources.

While a center leaning source focused on Costa's call for collective responsibility and a forward looking mentality, a center right leaning source framed the speech as a response to accusations of European decline. The center right report noted that Costa's push for competitiveness and the completion of the single market by 2027 serves as a counterpoint to criticisms from figures such as Jordan Bardella and Roberto Vannacci. Costa also referenced reports by Mario Draghi and Enrico Letta regarding obstacles to EU competitiveness, stressing the need to transform European savings into investments for innovative companies.