Brussels, 20 June 2023 (TDI): Ahead of the European Council (EUCO) meeting, EU President Ursula von der Leyen met the Prime Minister of Luxemburg, Xavier Bettel, to discuss the upcoming EUCO while comparing notes on the budget of the European Union and its economic security strategy.
The two sides also discussed the shared interest in improving the EU’s presence in Luxembourg, which is not only a member state, but also one of the three official offices of the organization.
EU Budget Preparations and Financial Security Interests
As one of the biggest aid donors in the world, the EU aims to eradicate poverty and bring prosperity to the entire world’s population. With the ongoing war in Ukraine, its members have reiterated their commitment to providing financial assistance to the victim country for reconstruction and rehabilitation.
In addition, in her recent visits to Africa, Europe and Latin America, the President of the European Commission has agreed on many projects and investments in the green transition, trade and other technology innovations, thus increasing the need for a budget review to ensure a flexible and appropriate budget ceiling for 2024, to implement all the policies and investment projects while maintaining sufficient margins to deal with any unforeseen circumstances, as the lesson learnt from the COVID-19 pandemic.
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To that end, the member states, in the mid of June, agreed to revise EU budget rules in accordance with the Multiannual Financial Framework (MFF) Package.
In addition to ensuring that its funds are properly spent for the implementation of committed plans and policies, the second important function of the EU is to preserve donor trust by preventing corruption and other irregularities.
Along with the discussion of these pertinent matters, the President and the Prime Minister paid attention to the upcoming prestigious event of EUCO, whose agenda is yet to be decided.
It will be a significant platform for discussing the EU’s latest developments and projects along with its continued support to Ukraine while deepening relations with the African nations.
