The EU’s economic priorities need to be reoriented

Excerpt from the statement by Aristos Damianou, member of the Political Bureau of AKEL, Member of Parliament, during the meeting of the Parliamentary Finance Committee with the European Commissioner for Budget, Anti-Fraud and Public Administration Piotr Serafin

4 September 2025, AKEL C.C. Press Office, Nicosia

We strongly believe that the priorities set out in the EU’s multiannual financial framework for 2028 to 2034 do not reflect the real needs of the societies of the EU member states. Both from our initial study of its priorities and from our own information, it is clear that the military industry is at the heart of the development goals. In fact, they do so by citing the ongoing Russian invasion of Ukraine, but also the need to create ‘counterbalances’ to the American military industry.

As the Left (in the European Parliament) and as AKEL, we have a different view. Development can be achieved in many ways. However, militarism should never be a priority.

There needs to be an immediate reorientation of the European Commission’s policies and priorities. There should have been adequate dialogue with the European Parliament, the only elected body that reflects the views of the European peoples. The need to address the enormous social inequalities within the societies of the EU member states, but also the inequalities that exist between northern and southern Europe, should have been properly assessed.

At the same time, as a result of the climate crisis, which we all acknowledge, a more comprehensive environmental policy is demanded to address the problem. A long-term policy, which unquestionably requires research, but also funding is needed. For that reason, instead of spending billions, essentially from the resources of the European peoples, on the development of military industries, it would be better to channel funds for the prosperity of the peoples, for real social cohesion, and for combating the environmental crisis, with respect for future generations.

Beyond that, we welcome your presence and the opportunity to have a meaningful dialogue, which we will continue at both a national and European level.