Sources: Germany wants to cap next EU budget at 1% of GDP - Reuters

Dhwani Mehta FXStreet

Reuters quotes German diplomatic sources as saying that Germany wants to limit the bloc’s next budget for 2021-27 at 1% of the bloc’s economic output, below the 1.11% proposed by the executive European Commission.

Sources added that the biggest net contributor to the bloc’s joint coffers - would present the proposal to fellow ministers on Monday.

EU states’ ministers will meet in Brussels on Monday to discuss the budget issue.

EUR/USD is slightly off the lows, currently trading around 1.1065 amid lack of fresh catalysts and ahead of the Fed decision.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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