European Union leaders gather for their December meeting on Thursday afternoon, with the focus being on Brexit and the EU Budget.

The meeting had initially been set to be the first post-Brexit agreement summit but the British government on Tuesday postponed the ratification of the Brexit deal and British Prime Minister Theresa May is hoping to get new assurances in an effort to push the deal through the Commons in January.

Several EU leaders have said the legal text of the deal will not be changed but they are prepared to discuss clarifications and assurances.

Mrs May is due to hold talks with the Irish prime minister and the president of the European Commission before the EU leaders' summit formally gets under way.

Regarding Brexit, Prime Minister Joseph Muscat insisted earlier this week that there was no room for a better Brexit deal.

“There is no room for further negotiation, though perhaps there may be space to clarify certain points” he said during a cabinet meeting.

With the March 2019 deadline for the UK to leave the EU looming, EU Council President Donald Tusk is also urging heads of government to discuss the state of preparations for a no-deal scenario.

Budget talks

The summit could be especially important for Malta as it seeks a bigger slice of cohesion funds during the talks on the EU Budget for 2021 - 2027.

Britain's withdrawal from the EU means a smaller EU budget, the UK being one of the bloc's biggest contributors to date. Malta's strong economic performance has also made it less eligible for cohesion funds.

In a speech last month, however, Dr Muscat expressed optimism that Malta would continue to be eligible for some EU Cohesion Funds. He insisted that economic progress needed to be sustained, rather than have support withdrawn, and he was confident that this view was gaining traction in the European Commission.

Times of Malta had reported in May how Malta’s economic boom was set to make the country one of the European Union’s biggest cohesion fund losers, under budget plans unveiled by the European Commission.

According to the plans, Malta would receive roughly €673 million in cohesion funds between 2021 to 2027 – though that proposed figure was in reality closer to €597 million when funding was locked in at 2018 prices, without inflation factored in. 

The EU summit is also expected to discuss migration, and relations with the League of Arab States.