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Reactions to the European Commission’s new EU budget proposal
An agreement on the new EU budget requires backing from all 27 member countries and sign-off from the European Parliament
International News via Reuters:
Following are some reactions to the European Commission’s proposal on Wednesday for a 2 trillion euro ($2.31 trillion) EU budget for 2028-2034. The proposal places a new emphasis on economic competitiveness and defence while aiming to reform the rules around farm and economic development subsidies.
An agreement on the new EU budget requires backing from all 27 member countries and sign-off from the European Parliament.
SWEDISH GOVERNMENT, IN A STATEMENT
“We can never accept that common EU funds go to countries that don’t respect basic democratic principles and European values”
“We won’t solve the EU’s problems with a bigger budget and increased EU contributions, rather through using current resources in a smarter way and putting money where it is really needed.”
HUNGARIAN PRIME MINISTER VIKTOR ORBAN
“Brussels’ proposal can be summed up as a pro-Ukrainian budget, and its aim is clear as day: to send the money of the European people to Ukraine. This Brussels plan is weak even as a basis for negotiation, and we suggest that it be withdrawn and a new one drawn up, not in the interests of (Ukrainian President Volodymyr) Zelenskiy and Ukraine, but in the interests of the people of Europe and European farmers.”
DUTCH FINANCE MINISTER EELCO HEINEN,
“The proposed budget is too high. We should not always focus solely on how the EU can spend more, but rather on how existing funds can be spent better”
“This requires tough choices. The financial contribution of the Netherlands to the EU is already significant. We therefore want to see an improvement in our net payment position … As far as the Netherlands is concerned, new instruments for joint debt are therefore not on the table.”
FRANCE’S EUROPE MINISTER, BENJAMIN HADAD
“I welcome the ambition for the new multiannual financial framework presented today by the European Commission”
“I will be … in Brussels on Friday to defend our priorities: the rearmament of the European continent, supporting our competitiveness and technological sovereignty, the income of our farmers, and the creation of our own resources.”
EUROPEAN COUNCIL PRESIDENT, ANTONIO COSTA
“I welcome the presentation of the proposal on the EU long-term budget by the European Commission, a step which will allow the Council to start working. A budget is not just about numbers— it is the ultimate political decision, a choice about our future, and we need to approach this debate with an open mind and spirit of collective responsibility.”
LEAD MEMBERS OF EUROPEAN PARLIAMENT: SIEGFRIED MURESAN, CARLA TAVARES, SANDRA GOMEZ LOPEZ AND DANUSE NERUDOVA
“This draft budget does not leave sufficient funds for critical priorities including competitiveness, cohesion, agriculture, defence, climate adaptation and the investment necessary for a sustainable economy that works for all.”
“Parliament stands ready to use all its powers to their full extent to ensure that the next long-term budget matches the Union’s ambitions and challenges.”
LINDA KALCHER, EXECUTIVE DIRECTOR OF PAN-EUROPEAN THINK TANK STRATEGIC PERSPECTIVES, ON CLIMATE BUDGET
“The inclusion of a 35% climate mainstreaming in the new budget shows the Commission is still serious about supporting decarbonisation efforts across the continent… This is essential to make the 90% climate target by 2040 achievable. It is however a wasted opportunity not to strictly exclude fossil fuel funding from the budget.”
FAUSTINE BAS-DEFOSSEZ, POLICY DIRECTOR AT EUROPEAN ENVIRONMENTAL BUREAU
“A long-term budget based on short-term thinking is a dangerous mistake. There is no competitiveness, security or prosperity on a dead planet. This isn’t just about repealing and merging what’s left of LIFE into a catch-all fund – it’s about dismantling Europe’s only dedicated tool for nature and climate action.”
ANOUK PUYMARTIN, HEAD OF POLICY, BIRDLIFE EUROPE
“This is a devastating blow for European citizens. We are facing a worsening nature and climate crisis, and the proposed long-term EU budget offers no clear path to tackle it. Worse, biodiversity is losing its place in the EU budget with no dedicated funding or clear prioritisation.”
NGO EUROPEAN NETWORK ON DEBT AND DEVELOPMENT (EURODAD)
“The restructuring of the budget puts at risk the EU’s central role in fighting poverty, responding to global crises, and supporting those living in the Global South. The Commission is proposing to merge existing external action instruments into one called Global Europe. This move increases the risk that funding is diverted to serve short-term political gains, rather than used to tackle poverty and inequalities.”
COPA-COGECA, ORGANISATIONS REPRESENTING NATIONAL FARMERS’ AND COOPERATIVES’ ASSOCIATIONS
“Unprecedented budget cuts, the dissolution of the two pillars, a loss of communality and the Commission’s disengagement from its historic agricultural policy, can they be interpreted as anything else than a message of abandonment, indifference, and lack of strategic priority for agriculture and rural communities? With the looming Mercosur deal how can the
European Commission expect to still be heard and trusted by the agricultural community in the years ahead?”
ARNAUD ROUSSEAU, HEAD OF FRANCE’S BIGGEST FARMING UNION FNSEA
“Madame President, your budget and CAP proposal are nothing more or less than a provocation towards the agricultural world. Rethink your approach! There will be no rise in Europe’s power without food rearmament!”
Reporting by Charlotte Van Campenhout, Kate Abnett, Simon Johnson, Anita Komuves, Sybille de La HamaideEditing by Frances Kerry, Aidan Lewis
Administrator goes the extra mile – and earns recognition
Bank Reconciliations Administrator Ziafra Wade-Davis has won a public sector award
Ziafra Wade-Davis, pictured with Premier David Burt. Photo supplied
Press release:
The Government of Bermuda is pleased to announce that Mrs. Ziafra Wade-Davis from the Accountant General’s Department has been selected as the June recipient of the Public Service Excellence Award (PSEA).
In her role as Bank Reconciliations Administrator, Ziafra (pictured with Premier David Burt), has been recognised for her exceptional commitment to innovation, accountability, and continuous improvement in public service.
In preparation for the upcoming Consolidated Fund audit, Ziafra volunteered to complete nearly half of the year-end reconciliations for the Accountant General’s cash portfolio, an area outside of her formal training. Despite the complexity of the work, she delivered results two months ahead of schedule, consistently demonstrating initiative, diligence, and integrity. Her proactive efforts not only received glowing feedback from client departments but also delivered valuable insights and solutions aligned with international best practices, Financial Instructions, and relevant legislation.
Ziafra’s performance goes beyond routine expectations. During a recent training exercise, she dramatically improved the reconciliation process for the Traffic Control Department (TCD). By taking a big-picture view and applying advanced Excel techniques, she streamlined a task that once took over four weeks into one that now takes under an hour. This accomplishment reflects her ability to think critically, solve problems efficiently, and lead innovation within her unit.
Her actions clearly align with the mission of the Government’s Public Service Strategic Plan to “build a more capable public service that is accountable, citizen-focused and prepared for the future.”
Ziafra exemplifies our core values of accountability, integrity, innovation, and continuous improvement.
Premier David Burt offered his congratulations, “Ziafra’s efforts to streamline processes have helped save time and reduce costs to taxpayers. I enjoyed speaking with her and learning more about the impact of her work. These are the kinds of skills we want to see shared across the Public Service to improve efficiency. She has demonstrated a level of leadership in her role as Bank Reconciliations Administrator that makes her truly deserving of this award.” Head of the Public Service, Cherie Whitter, added, “Ziafra’s initiative and problem-solving mindset highlight the talent within our public service. As public officers, we must be proactive, innovative, and focused on preparing for the future. She is a great example of what it means to go above and beyond.”The PSEA is a programme that recognises a group or individual within the Public Service who has made significant achievements in service delivery in the last 60 days.
Rosewood Bermuda has a new GM
Patrick Graham previously held senior hotel roles in Europe
Patrick Graham: “… Our vision is not only to deliver exceptional guest experiences, but to lead with purpose, deepening our ties to community and culture.” Photo supplied
Rosewood Bermuda has a new Managing Director.
Patrick Graham most recently served as Hotel Manager at Rosewood London.
He has also worked at Claridge’s, The Bulgari Hotel & Residences and Nobu Hotel London Portman Square.
Here’s a press release from Rosewood:
Rosewood Bermuda, the premier luxury island resort within the exclusive Tucker’s Point community, has appointed Patrick Graham as the new Managing Director. In this new role, Graham will oversee all facets of Rosewood Bermuda’s operations, ensuring the property continues to deliver the exceptional service, world-class amenities, and immersive local experiences for which it is renowned. His leadership will be instrumental in continuing to strengthen the resort’s connection to the local community while guiding its next era of innovation under the Rosewood 3.0 vision.
Graham joined Rosewood Hotels & Resorts in 2022, most recently serving as Hotel Manager at Rosewood London, where he led operations at one of the brand’s flagship European properties. He has also held key pre-opening and interim leadership positions at Rosewood Munich and Rosewood Schloss Fuschl, where he served as Opening Ambassador and Acting Managing Director. His ability to lead high-performing teams through critical phases of hotel development and brand integration has made him a trusted asset across Rosewood’s global portfolio.
“As we look to the future for Rosewood Bermuda, our vision is not only to deliver exceptional guest experiences, but to lead with purpose, deepening our ties to community and culture,” states Patrick Graham, Managing Director at Rosewood Bermuda. “Our Juniper Initiative was launched in 2024 to support education, sustainability, and inclusivity across the island, its habitat and its people. This powerful platform allows us to work side by side with local philanthropic organizations, and I’m committed to evolving the program in my new role to further resonate with today’s conscious traveler.”
Throughout his career, Graham has held senior roles at some of the most respected luxury hotels in London, including Claridge’s, The Bulgari Hotel & Residences and Nobu Hotel London Portman Square. Known for his ability to balance operational precision with genuine hospitality, Graham has consistently delivered elevated guest experiences while fostering long-term relationships with stakeholders and team members alike.
For more information and reservations, please visit www.rosewoodhotels.com/en/bermuda
About Rosewood Bermuda
Rosewood Bermuda is a renowned residential and resort community with breath-taking vistas of Castle Harbour, Harrington Sound and the Atlantic Ocean. Opened in 2009 as Rosewood Tucker’s Point, the property is one of Bermuda’s premier luxury resorts and was the island’s first-ever property to offer private residence club in addition to whole ownership homes. Rosewood Bermuda reopened in April 2018 following a comprehensive renovation that included a complete refresh of the resort’s guestrooms, new and elevated food and beverage outlets, expanded meeting spaces, and enhancements to Sense®, A Rosewood Spa, the Beach Club and the Golf Clubhouse. Upon reopening, the landmark property debuted to offer guests, homeowners and members new opportunities to relax, unwind and immerse themselves in the local culture.
Visit https://www.rosewoodhotels.com/en/bermuda for additional information or follow the latest news through the hotel’s social media channels on Instagram @RosewoodBermuda or on facebook.com/rosewoodbermuda.
Britain’s life sciences plan gets mixed reception from pharma industry
Industry figures have voiced dissatisfaction with Britain’s tough pricing regime
International News via Reuters:
Britain launched a life sciences sector plan on Wednesday to a mixed response from the pharmaceutical industry, which welcomed proposals to boost R&D but warned it would fail to keep firms competitive unless there was a deal on drug pricing.
Life sciences is one of eight priority sectors under a new industrial strategy launched by the government last month, but the publication of a sector-specific plan was delayed as the pharma industry and government failed to agree a deal on how much revenue from UK sales firms must return to the country’s health service.
Industry figures have voiced dissatisfaction with Britain’s tough pricing regime which they say prioritises low costs over investing in innovation and securing access to the latest medicine.
While there was still an impasse on drug pricing, the government released the sector plan, which noted “intense competition for investment” and pledged to reform the regulation of medicine so more drugs get to the state-run National Health Service quicker.
However, the Association of the British Pharmaceutical Industry (ABPI) said the plan was “not enough to turn around the UK’s decline” and Britain still needed to address “the long-term disinvestment in innovative medicines.”
“For too long, the UK has sought to be the place where innovation happens, but not the place where it is used,” said Richard Torbett, chief executive of the ABPI.
The government cited supportive comments from pharma firms GSK, Moderna and BioNTech for its plan, even as industry sources said the unresolved drug-pricing talks were an “elephant in the room.”
AstraZeneca, the UK stock market’s most valuable company, was not quoted in support of the sector plan in the government’s statement. Earlier this month, the company declined to comment on a Times report that it was considering shifting its stock market listing to the United States.
Tony Wood, chief scientific officer at GSK, said he welcomed reforms to incentivise more clinical trials and create a new lab network to accelerate drug discovery and development.
But a GSK spokesperson added it was “critical that the UK also takes action with this new plan to recognise the value of innovative new medicines and vaccines for patients.”
Torbett said ABPI was in the “final stages of an intensive discussion” on drug pricing, to “get these issues out of the way and allow our sector to deliver on its potential.”
Reporting by Alistair Smout; Editing by Bernadette Baum
Bank of England will aim for ‘ample’ reserves in UK financial system, official says
The BoE is currently unwinding its past quantitative easing asset prices at a pace of 100 billion pounds ($134 billion) a year
International News via Reuters:
The Bank of England is aiming for Britain’s financial system to have an “ample” level of reserves rather than a scarcity or the current surplus as it unwinds its past asset purchases, senior official Nathanael Benjamin said on Wednesday.
Benjamin, the BoE’s executive director for financial stability strategy and risk, said that banks with access to BoE liquidity facilities would have incentives not to hoard reserves and to ensure that they spread through the financial system.
“If we get the calibration of incentives right across our monetary operating framework and regulatory frameworks, reserves should be neither scarce nor abundant – just ample,” he said at an event hosted by the OMFIF central banking think tank.
The BoE is currently unwinding its past quantitative easing asset prices at a pace of 100 billion pounds ($134 billion) a year – although some investors think this will slow over the next 12 months – and COVID-era liquidity provided to banks is expiring.
As a result, banks will need to make increasing use of the BoE’s weekly auctions of 7-day and 6-month funds, which they can access in exchange for high-quality collateral such as British government bonds and certain loans.
Benjamin said banks needed to ensure they had sufficient suitable assets to use as collateral both in good times and bad.
“It is important that they … maintain enough ‘dry powder’ to source additional reserves from us in stress and also consider what collateral they have available to source liquidity from private-sector funding markets,” he said.
The growing role of financial firms other than banks in British lending markets also made it important to create incentives so that banks with direct access to BoE liquidity facilities lent funds to other firms, Benjamin added.
To achieve this, the BoE wanted to ensure that banks “would also have incentives not to hoard excess and unneeded liquidity, and would instead redistribute it to the rest of the system where it might be more needed.”
($1 = 0.7472 pounds)
Reporting by David Milliken; editing by Suban Abdulla, William Maclean
Hopkins claims early lead in Tour de Marie-Galante
Cyclist Kaden Hopkins, representing US Lamentin, has made a sensational start to the 47th Tour de Marie-Galante, winning the prologue and taking the overall lead.
In the 6.3-kilometre individual time trial, Hopkins clocked a dominant time of 7 minutes and 7.15 seconds. This impressive performance saw him finish 9.03 seconds ahead of Kévin Le Cunff and 12.49 seconds clear of Philgy Palmiste, securing him the yellow jersey as the first leader of the Elite and Open 1-2-3 event.
Hopkins now leads the six-day, 723-kilometre race across the island, setting a strong foundation for his campaign in the Tour Cycliste de Marie-Galante.
French PM’s plan to scrap two holidays stirs outcry, and memories of a toppled predecessor
Leaders on the left were equally displeased
International News via Reuters:
French Prime Minister Francois Bayrou wants to scrap two public holidays to put France’s finances back on track. It’s a brave move: The last French leader to try something similar soon found himself out of a job.
Bayrou, a long-time debt hawk who is fighting for his political survival, made the headline-grabbing proposal on Tuesday, when he outlined a series of deficit-reduction measures worth 43.8 billion euros ($50.88 billion) next year aimed at lowering France’s debt.
“The entire nation must work more – to produce, to increase overall national activity throughout the year, and to improve France’s situation,” Bayrou said. “That’s why I propose the removal of two public holidays.”
His idea is not without precedent.
In 2003, just months after a heatwave that killed nearly 15,000 people, then-Prime Minister Jean-Pierre Raffarin announced a plan to scrap the Pentecost Monday holiday and replace it with a “day of solidarity.” Pitched as a form of civic duty to finance aid for the elderly who had been disproportionably affected by the heatwave, employees would work for free while employers would also contribute.
The measure, rolled out in 2005, was a disaster. Some offices and schools shut; others remained open. Some workers got paid; others didn’t. Strikes and protests soon followed.
“It has become a social and political mess,” newspaper Le Monde wrote in an editorial at the time.
Two weeks later, the day after voters rejected a referendum on the European Union constitution, Raffarin resigned.
BAYROU’S UNCERTAIN FUTURE
Bayrou, who has survived eight attempts to topple him since taking office last December, is certain to face more no-confidence votes in a few months when budget talks gather momentum. His fate now rests largely in the hands of the far-right National Rally (RN), France’s largest parliamentary party, which can topple him if its lawmakers team up with the left.
“If Francois Bayrou does not change his plans, we’ll vote for a motion of no-confidence against him,” RN party chief Marine Le Pen said on Tuesday, joining leftist party chiefs who also signalled their willingness to unseat Bayrou.
Jean-Daniel Levy, from pollster Harris Interactive, told Reuters that while most supported Bayrou’s deficit-reduction efforts, 70% of respondents to their snap poll rejected the scrapping of two public holidays, and 61% rejected Bayrou’s proposed welfare spending freeze.
“I think everyone agrees we need to make an effort — but there are efforts, and then there are efforts,” said Jean Claude Vie, 85, as he walked the streets of Paris. “Is he making any effort himself?” he asked of Bayrou, saying the 74-year-old would “be better off retiring than holding onto a job that could go to someone younger.”
Ditching the Pentecost holiday was an easier sell in 2003, Levy said, as many French wanted to give back after the killer heatwave. Bayrou, however, has no such levers to pull.
“It’s perceived as a double punishment,” Levy said. “Working more without earning more, and losing moments of rest.”
Speaking on TF1 about the public holidays, Labour Minister Astrid Panosyan-Bouvet said that in “exchange” for the additional working days, a “contribution” would be requested from businesses, without giving more details.
OPPOSITION SENSES AN OPPORTUNITY
Jordan Bardella, Le Pen’s young protege and the RN’s possible candidate in the 2027 presidential vote, zeroed in on Bayrou’s proposal to abolish holidays, calling it “a direct attack on our history, our roots, and the France of workers.”
Leaders on the left were equally displeased.
Sophie Binet, who leads the CGT union, criticised the plan to scrap the May 8 holiday, which commemorates the end of World War Two, questioning the nixing of a day celebrating “the victory over Nazism, just as the far right stands at the gates of power.”
Not all were outraged.
In an op-ed in Le Monde, economist Charles Wyplosz said Bayrou’s “budget proposal is courageous and, overall, rather well-conceived.” Scrapping two public holidays would increase revenues to the tune of 4 billion euros, he estimated.
Despite being diluted by lawmakers in 2008, Raffarin’s “day of solidarity” endures, widely derided as a “ghost holiday” that continues to cause confusion among workers and employers.
Additional reporting Noemie Olive and Leigh Thomas; Editing by Ros Russell
EU’s von der Leyen says new budget fit for ‘new era’
The proposal aims to triple the budget for migration and border management
International News via Reuters:
European Commission President Ursula von der Leyen declared on Wednesday that her proposed new 2 trillion euro budget for the European Union from 2028-2034 had been designed for a new era”.
She added that the plan proposes a shift in how the EU organises key funds, while linking funding closely to the rule of law and keeping member state contributions steady.
The proposal aims to triple the budget for migration and border management and to double the Horizon research fund, while 35% of the budget would be spent on climate and biodiversity.
An agreement on the new EU budget requires backing from all 27 member countries and sign-off from the European Parliament.
($1 = 0.8645 euros)
Reporting by Lili Bayer, Geert De Clercq; Writing by Charlotte Van Campenhout; Editing by Andrew Gray
Bean-Rosario’s Leeward Islands U19 women secure convincing win
Katherine Bean-Rosario and the Leeward Islands Under 19 Women’s team delivered a commanding seven-wicket victory over Guyana’s Under 19 Women today at the Diego Martin Sporting Complex, part of the West Indies Rising Stars Women’s Under-19 Championships.
Guyana, batting first, were bowled out for just 74 runs. Sainavi Kambalapalli was the standout bowler for the Leeward Islands, taking four wickets for 22 runs, while Bermudian Katherine Bean-Rosario was sharp behind the stumps, holding two crucial catches.
In reply, the Leeward Islands comfortably chased down the target, reaching 75 for 3. Kambalapalli again shone, top-scoring with an unbeaten 37, and Bean-Rosario contributed a valuable 7 runs to seal the comprehensive win. This victory marks a significant step for the Leeward Islands in the regional competition.
Bermudians face strong winds at Long Beach Regatta
The Long Beach Olympic Classes Regatta today delivered its signature conditions, with a strong southwest breeze replacing Saturday’s lighter winds. Sailors faced steady 12-15 knot winds, building to gusts of 18 knots by afternoon, providing a true test for the international fleet.
Bermuda has two sailors competing. In the 44-strong ILCA6 Fleet, Adriana Penruddocke is currently in 26th place with 155 net points after nine races, her best finish being a 6th in the fourth race.
In the 52-competitor ILCA7 Fleet, Campbell Patton sits in 25th place with 188 net points after nine races, having achieved a strong 5th place finish in the second race.
Both Bermudian sailors are gaining crucial experience against top international competition as the regatta continues with these challenging conditions.
Island Games: Bermuda secures first medals, golf record broken
Day three of the Island Games in Orkney marked a significant turning point for Bermuda, as the island nation celebrated its first medals of the competition and witnessed a record-breaking performance on the golf course.
The squash courts delivered Bermuda’s inaugural medal, with Taylor Carrick earning a Silver Medal in the Men’s Singles. Carrick battled bravely in the final, ultimately falling to Orkney’s Finlay Scott in a tight contest.
On the golf course, Sienna Mosquera delivered a sensational performance in the Ladies Individual event. She fired a second-round 65, shattering the previous course record of 67, and propelling herself into a tie for 1st place overall. The Bermuda Women’s team also sits impressively in 3rd place.
Bermuda’s football teams maintained their strong runs. The Women’s National team remained undefeated with a comfortable 2-0 victory over Shetland Islands, while the Men’s Under 23 team also stayed unbeaten, fighting back from two goals down to secure a 2-2 draw with Ynys Môn.
Elsewhere, Bermudian badminton players saw mixed fortunes, with Aaron Simmons progressing in the Men’s Singles before his teammate Daljeet Singh Gadiwale exited. Jake Brislane finished 5th in the Men’s 1,500m on the track. In Lawn Bowls, David Leach secured a win before a loss, while Judith Barton faced tough opposition.
Overall, Day Three has significantly boosted Bermuda’s presence at the Island Games, with medals and records providing key highlights as the competition continues.
