EU NATIONS RELUCTANT TO COUGH UP EXTRA CONTRIBUTIONS, AS UK LEAVES MASSIVE HOLE IN EU BUDGET

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BREAKING BRITANNIA NEWS

The Brussels bloc will fight to come to an agreement on which nations will be forced to up their financial contributions to the EU funding once the UK will’ve officially ceased paying in at the end of Brexit trade talks. Former Brexit Party MEP Michael Heaver claimed EU member countries are already rejecting the idea of having to”pump more billions” into the European job to compensate for the missing huge contribution made so far from the united kingdom. Talking to his former aide at the European Parliament Martin Daubney, he said:”During my period as an former MEP – God that feels good stating I had been on the Budgetary Control Committee. The European Union is really world-class at one thing: investing dosh.

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“The fact that you’ve got these disco ball, bottomless night bar, based on Joe Barnes in the Daily Express, in precisely the same time that the EU is seeking to increase budgets, increase abilities, of course, while losing the UK as a huge financial contributor.

“I actually believe the financial element of the European Union will cause huge issues .

“Since you have already got now a narrative up from Holland of the Dutch PM Mark Rutte saying that Holland doesn’t intend to contribute more money to the EU budget in the next several years.

“Well guys, it’s pretty straightforward, is not it? It’s simple maths. If the UK is leaving and EU budgets will go up, somebody is going to have to ditch the money up.

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“And guess what? Governments aren’t likely to be too keen on pumping billions into this EU project.

“I think that’s where this debate is heading right across the continent: who the hell is financing this?”

Brexit has thrown fiscal planning into the chaos with Britain’s departure leaving an annual hole of roughly $12 billion at the EU’s coffers and wealthier nations fear being strong-armed into making up the shortfall.

It leaves Mr Michel confronting a stand-off between members countries that are looking to maintain their participation to the EU’s coffers widely at current levels despite Brexit and those who think the bloc needs to invest much more.

At least 18 person meetings with EU leaders had been scheduled this week which Mr Michel predicted from the hope of attempting to forge a compromise between the opposing factions.

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A”frugal group” of four net-payers led by Dutch Prime Minister Mark Rutte insists that the new fiscal plan, especially given Britain’s departure, should remain secure at 1 percent of the bloc’s gross national income (GNI).

Many of them are pushing to get a seven-year budget of $1.135 trillion which piles up at 1.11 percentage of the EU’s GNI.

Germany and France, who will be responsible for a projected 42 percentage of the general national donations under the European Commission’s funding proposal, are trying to distance themselves from the spat although Angela Merkel has called for a 1 percent budget cap while Emmanuel Macron would like to splash the cash.

EU chiefs despise members being branded net payers and net recipients and insist everyone gain in the bloc’s budget however, the cohesion and frugal camps are equally digging their heels .

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Portuguese Prime Minister António Costa, who’s taken on a leading role in the Friends of Cohesion, stated:”We want a budget that is equivalent to European ambition which allows us to respond to the legitimate expectations of taxpayers.

Austrian Chancellor Sebastian Kurz emphasized his continuing frugal position.

He said:”We must use taxpayers’ money carefully and carefully.”

Regardless of the split, Mr Michel and his staff insist that a deal could nevertheless be achieved at a specially-convened February 20 budget summit.

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