EU needs new budget to face security woes in Trump era - Monti

Italy's former Prime Minister Mario Monti looks on during a coffee break at the annual Italian business and political conference in Cernobbio September 6, 2013. REUTERS/Stringer

BRUSSELS (Reuters) - The migration and security challenges faced by the European Union need to be addressed with a different funding system which would give the EU a direct share of national tax revenues, former Italian prime minister Mario Monti said.

Monti, who was a European Commissioner between 1994 and 2004, chairs an EU advisory group on reforming the common budget that will deliver its final report to the Commission this week.