EU leaders fail to agree on 2028-2034 budget, defer to November summit

EU heads of state concluded a 15-hour Brussels summit without agreement on the next seven-year budget framework, citing deep divisions among member states. The decision was postponed to an extraordinary council on November 26, leaving the bloc's fiscal trajectory uncertain. The failure highlights persistent north-south and net-contributor vs. net-recipient rifts, with implications for cohesion and agricultural spending.