BRUSSELS — The bloc’s next seven-year budget suffered a €159 billion cut from the Commission's original proposal, according to a new plan unveiled Saturday. The Irish presidency of the Council of the EU, which is steering the talks, proposed a cutting around 8% to the bloc’s total budget from 2028 to 2034 to appease a German-led camp demanding major cuts. The Irish negotiating document, or negobox , envisages cuts of €122 billion in current prices from the previous negobox presented by the Cyprus presidency in June. It sets the scene for fraught discussions among the EU’s 27 leaders during a summit next week.
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