Hawkish Eastern European and Nordic countries including Poland and Sweden are keen to boost EU spending on defense, while Southern ones such as Italy and Greece would prefer more cash to stem migrant arrivals from Africa.
In 2025, EU countries will set their red lines for the negotiations. But if the past is anything to go by, leaders will squabble over the details till the eleventh hour.
The green rules bonfire
Green finance rules were already set to dominate the 2025 agenda, with tweaks to the Sustainable Finance Disclosure Regulation widely expected to iron out kinks in a text that has hugely impacted industry.
But now Commission President Ursula von der Leyen has taken prospective amendments to another level by announcing a bumper “omnibus” law that is expected to merge a number of green rules together. The package is already sparking political fights over which laws to include, with the finance sector bracing for an intense legislative battle.
The ‘open finance’ revolution
Lawmakers are debating key financial reforms, including a financial access data bill and payment sector rules, pitting Big Tech against traditional finance.
The data bill would force insurers and other financial firms to share customer data with third parties, in a bid to foster innovation.
