Editorial Board
The European Union Needs a Much Bigger Budget
The bloc’s fiscal firepower is woefully inadequate for the challenges it faces.
Not cheap.
Photographer: Nathan Laine/BloombergThe leaders of the European Union have a lot to accomplish in the next five years: Restore economic dynamism, slash carbon emissions, transform energy and digital infrastructure, establish a credible defense capability, and fend off whatever unexpected shocks come along.
To have any chance of success, the EU will need a budget commensurate to the task.