EU leaders meet in Cyprus for informal summit on budget and regional security

The two-day informal European Council summit, held under the Cypriot presidency, transitioned from the Ayia Napa marina to the Filoxenia Conference Centre in Nicosia. The primary agenda on the second day focused on the Multiannual Financial Framework for 2028-2034, with discussions centering on a proposed budget near two trillion euros and the potential introduction of new own resources. EU leaders also held a session with regional partners, including representatives from Egypt, Lebanon, Syria, Jordan, and the Gulf Cooperation Council, to address stability and security. Cypriot President Nikos Christodoulides emphasized the need to operationalize Article 42.7 of the EU Treaty, which concerns mutual defense among member states. The summit included discussions on geopolitical instability, energy autonomy, and the war in Ukraine, with Ukrainian President Volodymyr Zelensky attending as a special guest. While formal EU summits result in legal acts, this informal gathering aimed to provide strategic direction for political agreements expected by the end of the year. Bilateral meetings between President Christodoulides and the leaders of Egypt and Lebanon were also scheduled on the sidelines of the event.