EU leaders meet in Nicosia to discuss the Multiannual Financial Framework and regional stability

On Friday, EU leaders concluded their two-day informal European Council summit in Nicosia, Cyprus, hosted by President Nikos Christodoulides. The primary focus was the negotiation of the new Multiannual Financial Framework (MFF), with significant disagreements emerging between member states. German Chancellor Friedrich Merz explicitly rejected increased debt and the issuance of European bonds, advocating for budget discipline. Conversely, other member states proposed more ambitious spending to address energy and security challenges. French President Emmanuel Macron announced a planned conference to support Lebanon, emphasizing the need for stability in the region. Spanish Prime Minister Pedro Sánchez underscored the importance of international law and a shift toward renewable energy sources. The summit also included consultations with regional leaders from Egypt, Jordan, Syria, and the Gulf Cooperation Council. Earlier in the event, participants met with Ukrainian President Volodymyr Zelensky to discuss geopolitical developments.