European Council tasks António Costa with new long-term budget compromise before 26 November meeting
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What happened
At the 15-16 October European Council meeting, heads of state and government declined to endorse the Irish presidency’s compromise on the EU’s next seven-year budget and assigned António Costa to present a revised proposal before leaders meet again on 26 November.
Why it matters
The failed October compromise moves the budget negotiation into a narrower political window before the year-end target for agreement. Another unsuccessful leaders' meeting would leave the Council and Parliament farther apart on the multiannual budget and delay decisions on how to finance Ukraine support, defence spending and competitiveness programmes in the same framework.
EU leaders did not accept the Irish presidency’s long-term budget compromise at the 15-16 October summit and asked European Council President António Costa to prepare a new text for their next meeting on 26 November. The dispute pits net contributors often grouped as the 'Frugal' states against the 'Friends of Cohesion' over the size and structure of the next seven-year EU budget. The next compromise attempt now has a defined timetable, with leaders aiming to settle the package in December.
Watch for
European Council publication of António Costa's invitation letter or annotated agenda for the 2026-11-26 meeting referencing the MFF compromise text Consilium release of a draft conclusions document or leaders' note before 2026-10-29 setting parameters for the revised seven-year budget package European Parliament budget leaders' public position after any 2026-10-27 to 2026-10-29 coordination meeting on whether they would accept a Council-first December timetable No circulation by the Council Secretariat of a revised compromise framework to member-state sherpas by 2026-10-29
Sources
- Meetings calendar - Consilium · consilium.europa.eu
- Pressure mounts on EU leaders to strike a budget deal by December – EUobserver · euobserver.com