Costa urges leaders to clarify in October the new sources of revenue to finance the EU budget

European leaders and finance officials have convened to address various economic, budgetary, and geopolitical challenges facing the continent. António Costa, President of the European Council, urged EU leaders on Thursday to clarify new revenue sources during the upcoming October summit to finance the community budget through a revised and updated package of own resources.

Simultaneously, eurozone economy and finance ministers gathered in Dublin on Friday to evaluate the economic situation of the euro area, focusing on factors such as crude oil prices and market volatility alongside the broader economic impacts of artificial intelligence. In a separate development, geopolitical tensions involving the war with Iran have driven nations to adopt clean energy policies and reduce energy consumption, though these measures have not yet been sufficient to curb global emissions or address climate change.