"We can't please everyone. But we hope everyone can find something in the compromise that works for them," says EU Minister Thomas Byrne in a debate in the European Parliament in Strasbourg.
Ireland's compromise develops the proposal put forward by its predecessor, Cyprus, last spring. That version drew sharp criticism, particularly from Sweden, Germany and other countries that want a smaller, tighter budget.
Ireland is now expected to propose significantly larger cuts than those in the European Commission's initial proposal last year. The new compromise will be discussed at next week's EU summit in Brussels. The goal is to agree on the budget for 2028-2034 before the end of the year.
