Le Pen and AfD challenge von der Leyen’s €2 trillion EU budget
A strategy paper circulating within Germany’s AfD drops calls to leave the EU and euro, instead proposing an EU of sovereign states and tighter limits on the European Central Bank. Marine Le Pen has proposed cutting France’s net EU contribution to €5 billion and outlined spending cuts of €140 billion by 2032. Their proposals come as the Commission prepares a €2 trillion budget for 2028–2034.
Bottom line — The Commission’s proposed €2 trillion budget faces opposition from Le Pen and AfD over spending and national fiscal responsibility.
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The AfD paper calls for settling Target balances and creating an insolvency regime for member states.
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Le Pen says France’s annual borrowing should fall below 3% of GDP and wants a balanced primary budget within 15 months of taking office.
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She proposes putting a constitutional debt brake to a referendum.
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According to Cor.ax, French 10-year bond yields approached 5% on Friday before markets calmed at the start of the week.
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The Commission’s proposed budget would be roughly 60% larger; Germany’s annual contribution could rise from about €27 billion to €40–45 billion.