Ireland suggests 140 billion euro EU budget cut

Ireland, currently holding the presidency of the European Union, has proposed reducing the EU's upcoming budget by 140 billion euros (equivalent to 155 billion dollars), in an effort to bridge differences among the negotiating parties and establish a consensus framework. EU member states, particularly Germany, which is calling for a reduction in the proposed financial ceiling of one trillion euros set by the European Commission, are discussing the size and components of the future budget.

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