The European Union’s draft budget – the multiannual financial framework for 2028-2034 – is stacking up debt without a clear plan for how to repay it. As outlined in a previous article, the EU’s 2028–2034 budget proposal piles on massive new borrowing, relying heavily on uncertain new “own resources” that may never materialize.
"The draft also maps out yet another power grab by the EU's executive arm, the European Commission. To grasp how the bloc has quietly maneuvered itself to this point — despite the draft budget still requiring unanimous Council approval and parliamentary consent — one must rewind five years
The Covid crisis: crisis management, or the perfect alibi for institutional experimentation?
The foundations for these power grabs were laid by the Recovery and Resilience Facility — and the Commission has wasted no time exploiting them to seize competences the treaties never granted it. The Facility was sold as a temporary emergency instrument born of the Covid-19 pandemic. In practice, it became the principal disbursement mechanism for the €750 billion NextGenerationEU programme and one of the chief engines driving the EU's mushrooming debt. The price of admission for member states: submitting national plans packed with reforms and investments, each shackled to a web of milestones and targets.
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