EU Commission president Ursula von der Leyen called the budget 'larger, smarter, and sharper,' designed for a world where 'crises are no longer the exception but the norm' (Photo: EU Commission)

Financial watchdog warns of ballooning costs of EU budget

EU Political

Green Economy

by Nikolaj Nielsen, Brussels,

Massive future interest repayments and skyrocketing borrowing projections are casting a long shadow over the EU's budget.

Financial watchdogs at the Luxembourg-based European Court of Auditors (ECA) are warning that outstanding borrowing could exceed €900bn by 2027.

And interest-rate rep...

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EU Political Green Economy

Author Bio

Nikolaj joined EUobserver in 2012 and covers home affairs. He is originally from Denmark, but spent much of his life in France and in Belgium. He was awarded the King Baudouin Foundation grant for investigative journalism in 2010.

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EU Commission president Ursula von der Leyen called the budget 'larger, smarter, and sharper,' designed for a world where 'crises are no longer the exception but the norm' (Photo: EU Commission)