World
The truth behind the €64.6-billion budget deal agreed by EU leaders
The European Union might soon add an additional €64.5 billion to its common budget. But it comes with fine print.
The top-up was for months the object of fierce bargaining among member states, each of whom, mindful of the upcoming elections to the European Parliament, pushed hard to see their wish list come true.
The negotiations kicked off in June, soon after the European Commission unveiled its proposal, and culminated in an extraordinary summit on 1 February, where Viktor Orbán, under tremendous pressure from his fellow leaders, lifted his monthlong veto.
“We had certainly some difficult choices to make, but we had a very good result,” European Commission President Ursula von der Leyen said after the meeting.
Once the gridlock broke, a new figure emerged: the bloc’s budget for 2021-2027, worth €2,018 billion in current prices (including €806.9 billion for the COVID-19 recovery fund), will be given an additional €64.6 billion until the remainder of the period.
The political deal is a considerable downgrade from the €98.8 billion top-up originally envisioned by the Commission. The executive argued the public coffers had been exhausted by the economic shockwaves of the pandemic, Russia’s invasion of Ukraine, the energy crisis, record-breaking inflation and devastating natural disasters, leaving the budget deprived of financial flexibility to react to unforeseen events.
But from the very onset, the €98.8-billion draft was met with strong resistance from member states, who would have been compelled to provide more than €65 billion in brand-new contributions. Rising interest rates, sluggish growth and diminishing revenues made the idea of writing such a cheque to Brussels all the more intolerable.
Diplomats haggled hard over how to cut down the fresh money to the bare minimum, playing a game of mix-and-match to plug the gaps.
So what’s new and what’s old in the budget top-up? Let’s break down the numbers.
Ukraine Facility: €50 billion
Boosting aid for Ukraine is the raison d’être of the revised budget. In fact, it was the only envelope that leaders left intact.
Under the agreement, the EU will establish the Ukraine Facility to provide the war-torn nation with €50 billion between 2024 and 2027 to keep its economy afloat and sustain essential services, such as healthcare, education and social protection.
The pot will combine €17 billion in non-repayable grants and €33 billion in low-interest loans, meaning member states will only subsidise the former. The money for the loans will be borrowed by the Commission on the markets and later repaid by Ukraine.
Brussels will roll out the Facility in gradual payments to guarantee reliable and predictable financing. In return, Kyiv will be asked to carry out structural reforms and investments to improve public administration, good governance, the rule of law and the fight against corruption and fraud – all of which can help the country advance its EU membership bid.
In a small concession to Viktor Orbán, the only leader who opposed the Ukraine aid, leaders will hold a debate every year to assess the Facility’s implementation, but this high-level discussion will not be subject to a vote (or possible veto). “If needed,” the deal says, leaders might invite the Commission to review the package in two years.
If the co-legislators agree swiftly on the regulation that underpins the Facility, Brussels will send Kyiv the first tranche in early March.
Migration management: €9.6 billion
This envelope survived the negotiations almost unscathed and it’s easy to see why: migration management is a key priority shared by all countries, particularly those in Southern Europe who bear the brunt of irregular arrivals.
The Commission originally asked for €12.5 billion to cover expenses on border control, relations with the Western Balkans, and the hosting of millions of Syrian refugees in Turkey, Syria, Jordan and Lebanon. The executive said the extra money was needed to realise the ambitions of the New Pact on Migration and Asylum, the holistic reform of the bloc’s migration policy that is nearing the finish line.
Leaders mostly agreed and granted €9.6 billion. “Migration is a European challenge that requires a European response,” they said in the deal.
New technologies: €1.5 billion
The EU is intent on being a leading player in the cutthroat race for cutting-edge technologies. For that, it needs money – a lot of money.
The Commission – fulfilling a grand promise made by President Ursula von der Leyen – designed the Strategic Technologies for Europe Platform (STEP) to finance avant-garde projects and promote EU-made high-tech. STEP was designed to help all member states, from the richest to the poorest, access much-needed liquidity in equal conditions.
Von der Leyen initially asked €10 billion for STEP to reinforce ongoing programmes like InvestEU and the Innovation Fund. But leaders shot down the idea and allocated only a meagre fraction: €1.5 billion to prop up the European Defence Fund (EDF).
Unforeseen crises: €3.5 billion
Since the early days of 2020, the bloc has been engulfed in back-to-back crises. From a lethal airborne disease to floods and fires that wrought untold havoc, Brussels has had a hard time adapting its tight budget to a ballooning list of expenses.
In its original proposal, the Commission requested €2.5 billion to bolster the Solidarity and Emergency Aid Reserve, which is triggered to deal with major natural disasters, and €3 billion for the Flexibility Instrument, which, as its name suggests, can be used to respond to any sort of critical situation.
Despite the worsening effects of climate change and a strong diplomatic push from Greece, a country badly hit by wildfires, leaders did not go all the way: their deal earmarks €1.5 billion for emergency aid and €2 billion for the Flexibility Instrument.
Interest payments: zero
As a result of the aforementioned crises, the EU had to press the pedal to the metal on its joint borrowing, most notably to build the COVID-19 recovery fund.
The €800-billion plan, which will be rolled out until 2026, comes with a considerable bill of interest payments, which drastically swelled as inflation hit double digits and the European Central Bank retaliated with consecutive rate hikes.
Facing a lofty invoice, the Commission pleaded with member states to add €18.9 billion to the budget review, an amount that immediately raised eyebrows. (The figure to cover overrun costs is variable and is now estimated at €15 billion.)
In the end, leaders opted for a three-step “cascade mechanism.” First, money will come from the existing provisions within the recovery fund. If this is not enough, Brussels will draw funds from programmes that are underperforming and the Flexibility Instrument. If this is still not enough, the third step will kick in and create an instrument financed by “de-commitments,” financial envelopes that were unspent or cancelled.
Only when all of this has failed will the cascade hit leaders as the Commission will be entitled to ask member states to provide direct contributions.
Redeployments: €10.6 billion
All the numbers listed above make a total of €64.6 billion but there’s a catch: countries will only cough up €21 billion. How is it possible?
Besides the €33 billion in loans from Ukraine, which involves the Commission and Kyiv, member states decided to shift €10.6 billion from ongoing EU initiatives: €4.6 billion from Global Europe, €2.1 billion from Horizon Europe, €1.3 billion from assistance to displaced workers, €1.1 billion from agriculture and cohesion funds, €1 billion from EU4Health and €0.6 from a special reserve to cushion Brexit disruption.
Speaking on condition of anonymity, a senior Commission official said the overnight cuts to Horizon Europe, the bloc’s flagship research programme, and EU4Health were unfortunate and “difficult to swallow.”
“At this point in time, it’s impossible for us to really tell you what this will mean in practice,” the official said about the potential effects of the €10.6-billion redeployment push.
In the case of EU4Health, the chop represents about 27% of the money left in the envelope, established less than four years ago in response to the pandemic. The demanded changes to both Horizon and EU4Health are likely to enrage the European Parliament, which needs to co-approve the budget review.
“This is something that is not easy,” the senior official added. But “we will religiously follow what the legislators decide.”
World
Bulgaria votes in eighth election in five years
Bulgarians headed to the polls Sunday for the eighth time in five years, with anti-corruption candidate and former president Rumen Radev’s bloc tipped to win.
ADVERTISEMENT
ADVERTISEMENT
The European Union’s poorest member has been through a spate of governments since 2021, when large anti-graft rallies brought an end to the conservative government of long-time leader Boyko Borissov.
Eurostat data shows Bulgaria consistently ranks last in the EU by GDP per capita. In 2025, Bulgaria (along with Greece) was at 68% of the EU average.
Radev, who has advocated for renewing ties with Russia and opposes military aid to Ukraine, was president for nine years in the Balkan nation of 6.5 million people.
He stepped down in January to lead newly formed centre-left grouping Progressive Bulgaria, with opinion polls before Sunday’s vote suggesting the bloc could gain 35% of the vote.
The former air force general has said he wants to rid the country of its “oligarchic governance model”, and backed anti-corruption protests in late 2025 that brought down the latest conservative-backed government.
“I’m voting for change,” Decho Kostadinov, 57, told reporters after casting his ballot at a polling station in the capital, Sofia, adding corrupt politicians “should leave — they should take whatever they’ve stolen and get out of Bulgaria”.
Polls are forecasting a surge in voter participation, with more than 3.3 million Bulgarians expected to cast ballots according to the Bulgarian News Agency.
Voting will close at 1700 GMT, with exit polls expected immediately afterwards. Preliminary results are expected on Monday.
‘Preserve what we have’
Borissov’s pro-European GERB party is likely to come second, according to opinion polls, with around 20%, ahead of the liberal PP-DB.
“I’m voting to preserve what we have. We are a democratic country, we live well,” said Elena, an accountant of about 60, who did not give her full name, after casting her vote in Sofia.
Front-runner Radev has slammed the EU’s green energy policy, which he considers naive “in a world without rules”.
He also opposes any Bulgarian efforts to send arms to help Ukraine fight back Russia’s 2022 invasion, though he has said he would not use his country’s veto to block Brussels’ decisions.
Pushing for renewed ties with Russia, Radev denounced a 10-year defence agreement between Bulgaria and Ukraine signed last month – drawing fresh accusations from opponents of being too soft on Moscow.
The ex-president also stoked outrage online for screening images at his final campaign rally of his meetings with world leaders including Russia’s Vladimir Putin.
“We need to close ranks,” he told around 10,000 cheering supporters at the rally, presenting his party as a non-corrupt “alternative to the perverse cartel of old-style parties”.
Borissov, who headed the country virtually uninterrupted for close to a decade, has dismissed suggestions that Radev brings something “new”.
At a rally of his party earlier this week, he insisted GERB had “fulfilled the dreams of the 1990s” with such achievements as the country joining the eurozone this year.
‘No one to vote for’
Radev is aiming for an absolute majority in the 240-seat parliament.
A lack of trust in politics has affected voter turnout, which slumped to 39% in the last election in 2024.
But with Radev rallying voters, high turnout is expected this time, according to analyst Boryana Dimitrova from the Alpha Research polling institute.
Miglena Boyadjieva, a taxi driver of about 55, said she always votes, but the “problem is that there is no one to vote for”.
“You vote for one person and get others. The system has to change,” she told reporters.
Political parties have called on Bulgarians to show up for the polls, also to curb the impact of vote buying.
In recent weeks, police have seized more than one million euros in raids against vote buying in stepped-up operations.
They have also detained hundreds of people, including local councillors and mayors.
World
How Cheap Drones Are Changing Wars Like the Ones in Ukraine and Iran
A 3-D rendering of an Iranian Shahed-136 drone, a device with two triangle-shaped wings attached to a central fuselage. It has an engine the size of a small motorcycle’s and carries 110 pounds of explosives.
Engine the size of a small motorcycle’s
Carries 110 pounds of explosives
One of the biggest takeaways of the war with Iran is that it has proven itself to be a surprisingly capable adversary against the United States. In addition to its willingness to go on the offensive, Iran has forced the U.S. and its regional allies to confront the rise of cheap drones on the battlefield.
Iranian drones, made with commercial-grade technology, cost roughly $35,000 to produce. That is a fraction of the cost of the high-tech military interceptors sometimes used to shoot them down.
Cheap drones changed the war in Ukraine, and they have enabled Iranians to exploit a gap in American defense investments, which have historically prioritized accurate but expensive solutions.
Countering drones has been a major priority for the Pentagon for years, according to Michael C. Horowitz, who was a Pentagon official in the Biden administration. “But there has not been the impetus to scale a solution,” he said.
In just the first six days, the U.S. spent $11.3 billion on the war with Iran. The White House and Pentagon have not provided updated estimates, but the American Enterprise Institute, a conservative-leaning think tank, estimated in early April that the U.S. had spent approximately between $25 and $35 billion on the war, with interceptors driving much of the cost. Many missile defense experts also fear interceptor stockpiles are now running dangerously low.
Here is a breakdown of some of the ways the U.S. and its allies have countered Iran’s drones, and why it can be so costly.
Air-based strikes
In an ideal scenario, an early warning aircraft spots a drone when it is still several hundred miles out from a target, and a fighter jet, like an F-16, is dispatched from a military base. The F-16 can then use Advanced Precision Kill Weapon System (APKWS) II rockets to shoot a drone from about six miles away.
A 3-D rendering of an F-16 fighter jet firing an APKWS II rocket from under one wing. Two to three rockets are fired per drone, as per air defense protocol. Two APKWS II rockets and an hour of F-16 flight cost approximately $65,000, a little less than twice that of the Iranian Shahed-136.
Two to three interceptors fired per drone
These types of defensive air patrols are cost-efficient, but haven’t always been available because of the vast scope of the conflict. Iran has also targeted early warning aircraft that the U.S. needs to detect a drone from that distance, according to NBC News.
The other option for detecting and shooting down drones is a variety of different ground-based detection systems, but these systems are all at a disadvantage, as their ability to spot low-flying drones is limited by the curvature of the earth.
Anti-drone defense systems
One ground-based defense system the U.S. and its allies have built specifically to counter drones at a shorter range is the Coyote. It can intercept drones up to around nine miles away.
A 3-D rendering of a Coyote Block 2 interceptor, which looks like a three-foot tube with small rockets at one end. Two Coyotes cost approximately $253,000 or about seven times that of the Iranian Shahed-136.
The Coyote is significantly cheaper than many of the other ground-based defense systems available to the U.S. and its allies and historically effective at defending important assets. But despite being both effective and cost-efficient, relatively few Coyotes have been procured by the U.S. military in recent years.
When Iran-backed militias launched attacks on U.S. ground troops in the region in 2023 and 2024, there were so few Coyotes available that troops had to shuffle the systems between eight different bases in the region almost daily, according to a report from the Center for a New American Security, a Washington think tank.
Ship-based anti-missile defenses
Many of the longer-range ground-based defense systems the U.S. and its allies can use to combat drones are more expensive, as they are designed to shoot down aircraft and ballistic missiles, not drones. A Navy destroyer’s built-in radar system, for instance, can detect drones from 30 miles away and shoot it down with Standard Missile 2 (SM-2) interceptors. As in the air-based strikes, military protocol stipulates that at least two missiles be fired.
A 3-D rendering of the deck of a Navy destroyer firing an SM-2 missile from a built-in launcher, which looks like a 15-foot missile launching from a grid of openings on the ship’s surface. Two SM-2 missiles cost approximately $4.2 million, about 120 times that of the Iranian Shahed-136.
This misalignment between America’s defense systems and current warfighting tactics started after the Cold War, when the anticipated threats were fewer, faster, higher-end projectiles, not mass drone raids.
Iran often launches multiple Shahed-136 drones at a time, given their low price tag. The drones are also programmed with a destination before launch and can travel roughly 1,500 miles, putting targets all across the Middle East within reach.
“This category of lower-cost precision strike just didn’t exist at the time that most American air defenses were developed,” said Mr. Horowitz.
Ground-based anti-missile defenses
The Army’s standard air-defense system is the Patriot. Typically stationed at a military base, it can shoot down a drone from up to around 27 miles away with PAC-3 Missile Segment Enhancement interceptors. Military protocol stipulates that at least two missiles be fired.
A 3-D rendering of a Patriot launcher loaded with 17-foot PAC-3 MSE missiles, which looks like a tilted shipping container with scaffolding. Two PAC-3 MSE missiles cost approximately $8 million, about 220 times that of the Iranian Shahed-136.
Patriot missile defense system
Air defense training teaches service members to prioritize using longer-range defense systems first to “get as many bites at the apple as you can,” but those are the most expensive, said Stacie Pettyjohn, a senior fellow and director of the defense program at the Center for a New American Security.
But a costly defense can still make economic sense to protect a valuable target, especially those that are difficult to repair or replace, such as the nearly $1.1 billion radar at a military base in Qatar and the $500 million air defense sensor at a base in Jordan that were damaged early in the conflict.
Ground-based guns
Finally, there is what one might call a last resort: a ground-based gun. When a drone is about a mile away or less than a minute from hitting its target, something like the Centurion C-RAM can begin rapidly firing to take down the drone.
A 3-D rendering of a Centurion C-RAM, which looks like a gun mounted to a rotating, cylindrical stand. The gun fires 75 rounds of ammunition per second. Five seconds of firing the gun costs $30,000, slightly less than a single Iranian Shahed-136.
Centurion Counter-Rocket, Artillery and Mortar
Fires 375 rounds of ammunition in 5 seconds
Even though it is fairly cost-effective, the Centurion C-RAM is not the best option because it has such a short range.
Interceptor drones
There’s also what one might call the future of fighting drones: A.I.-powered interceptor drones. Interceptor drones like the Merops Surveyor can theoretically hunt and take down enemy projectiles from a short range.
A 3-D rendering of a Surveyor drone, which looks like a three-foot tube with wings and a tail. The Merops drone costs approximately $30,000, a little less than a single Iranian Shahed-136.
Merops system: Surveyor drone
Eric Schmidt, the former Google chief executive, founded a company to develop the Merops counter-drone system in conjunction with Ukrainian fighters, who have already been combatting Iranian drones in the war with Russia for years.
The U.S. sent thousands of Merops units to the Middle East after the conflict began, but it is unclear whether they have been deployed. The military set up training on the system in the middle of the war, as reported by Business Insider.
Other attempts to lower the cost-per-shot ratio of taking out a drone have failed.
The Pentagon invested over a billion dollars in fiscal year 2024 researching directed energy weapons, or lasers, that would cost only $3 per shot and have a range of 12 miles. Those systems have yet to be used in the field.
Despite the cost imbalance, the real fear for many in the defense community is the depleted stockpile of munitions.
“What scares me is that we will run out of these things,” said Tom Karako, the director of the Missile Defense Project at the Center for Strategic and International Studies in Washington. “Not that we can’t afford them, but that we’ll run out before we can replace them.”
World
Moscow-born gunman dead after Kyiv shooting rampage leaves at least 6 dead, 14 wounded: Zelenskyy
NEWYou can now listen to Fox News articles!
A Russian gunman was killed by special forces Saturday in Ukraine after opening fire at a supermarket in Kyiv, killing six people and wounding 14 others — including a 12‑year‑old boy.
The 58-year-old shooter long resided in the Donetsk region and was born in Moscow, according to Ukrainian President Volodymyr Zelenskyy and Interior Minister Ihor Klymenko.
He took at least four hostages, killed one of them, and fatally shot four others on the street, Zelenskyy said. Another woman died at a hospital from her injuries.
Graphic video captured by witnesses showed the gunman shooting at a victim within close range on the street. Other bodies were seen lying on the pavement and in courtyards.
The gunman was seen walking with a weapon on the street. (Obtained by Will Stewart)
MANHUNT UNDERWAY AFTER GUNMEN STORM CHICK-FIL-A LEAVING 1 DEAD
Ukranian special forces stormed the convenience store after 40 minutes of failed negotiations, according to Klymenko.
At least fourteen people were wounded in the attack, though officials cautioned the number may rise as people continue to seek medical assistance.
Among the injured is a 12‑year‑old boy and a supermarket security guard, according to Kyiv Mayor Vitali Klitschko.
The gunman was pictured dead in the convenience store. (Obtained by Will Stewart)
NINE DEAD, 13 WOUNDED IN SECOND TURKISH MASS SHOOTING IN TWO DAYS
Zelenskyy said the shooter also set fire to an apartment prior to the attack, though it is unclear if any injuries resulted from the arson.
“My condolences to the families and loved ones of the victims,” Zelenskyy wrote in an X post. “…We wish all the wounded a swift recovery.”
The gunman had previously been prosecuted for criminal offenses, but held a valid weapons permit, according to authorities. Investigators from the National Police and the Security Service of Ukraine are investigating.
The gunman was seen holding and shooting a weapon in the street. (Obtained by Will Stewart)
GUNMAN OPENS FIRE AT HIGH SCHOOL IN TURKEY, WOUNDING AT LEAST 16
Ukraine’s security service labeled the attack an act of terrorism.
“All available information about him and the motives behind his actions is being thoroughly investigated,” Zelenskyy said. “Every detail must be verified.”
CLICK HERE TO DOWNLOAD THE FOX NEWS APP
One of the shooter’s neighbors, Hanna Kulyk, 75, described him as an “educated, refined man,” who lived alone and did not socialize often.
“You’d never guess he was some kind of criminal,” Kulyk told The Associated Press.
-
World3 minutes agoBulgaria votes in eighth election in five years
-
News33 minutes agoReal estate investors are buying up long-term care facilities. Residents can suffer
-
Detroit, MI3 hours agoFormer Piston shows Detroit what they’re missing as he dominates next to LeBron
-
San Francisco, CA3 hours agoEastbound I-80 closure in San Francisco snarls traffic, slows business
-
Videos3 hours agoCan Keir Starmer survive the latest Mandelson revelations? | BBC News
-
Dallas, TX3 hours agoPetar Musa’s Brace Not Enough as FC Dallas Draws LA Galaxy 2-2
-
Miami, FL3 hours agoMLS: Messi double helps Inter Miami slay Rapids in front of huge crowd
-
Boston, MA3 hours agoFrom across Boston they flock to play for Latin Academy boys’ tennis, a co-op of 29 schools – The Boston Globe