Germany balks at Cyprus’ 2% EU budget cut, demands a more affordable reform plan

Germany’s government blasted Cyprus’s proposal to cut the EU’s long-term budget by 2% as unaffordable and unbalanced, insisting on a reform-focused deal that prioritizes defense and competitiveness; Berlin aims to wrap up negotiations this year, warns that without an agreement funds for 2028 could be at risk, and signals openness to new revenue sources while rejecting a corporate levy.