🇬🇧///BREAKING BRITANNIA NEWS///🇬🇧
Since 2009 the Euro has been plagued with economic crisis due to EU member states such as Greece, Portugal,Cyprus, Spain and Ireland being unable to properly repay the debt burden without the constant assistance from other EU member countries, the European Central Bank or the (IMF) International Monetary Fund. This over the years has put massive economical pressures on German, French and U.K. economies. But now with the U.K. leaving the EU the monetary pressure on the bloc has been overwhelmingly hard. This has generated worry as Southern Europe continue to struggle to stay afloat with their massive national debts.
A critical statement was made by a spokesman from the Werte Union, which is a group associated with Angela Merkels party.
The statement read: “The general population are angry about Brexit and disappointed about it – it isn’t just to do with regulation or economics but many people fear that the idea of the European Union is broken.
“They also fear that maybe it will break apart.
“We tend to look more at the internal policies in Germany, but what we have spoken about is that maybe there will be a euro crash and that the EU will fail.
“It really depends on how the EU will further develop. There’s a lot of debt in Italy and other states of the euro, also in the banks who bought government bonds from these countries and now have a high risk.
“The UK, if the EU crashes and burns with the euro, the UK will sit there with a smiling face and say ‘lucky we left’.”
The pressures of debt on these countries has spilled out into anger during the budget talks. The frustration stems from the monetary hole left by the U.K. leaving the EU. The indebted nations are relying upon the richer EU nations to plug that Gap, this in return meant that no agreed way forward on the Mulitannual Financial Framework (MFF) budget was met.
Chancellor Merkel called for compromise saying she is willing to increase her country’s contribution to the budget if other countries would meet her efforts.
Merkels spokesman said: “Our goal has always been that this budget will also support a process of modernisation.”
He added that to achieve this, it “will require a willingness from all sides to compromise”.
Felix Schoenherr of the Werte Union said: “One problem from a German perspective is of course money because the UK contributed quite a lot to the EU, money which now breaks away.
“Of course, politicians now ask ‘who is going to step in for that?’ And it’s the Germans again.
“The Werte Union demands that the funding introduced for the EU is reduced – but we don’t want to abolish the EU.”
“The question whether the UK will succeed or fail, it is always in relation to the EU. So we are worried the EU may go a long way without so much concern for the UK.
“What we acknowledge of course is that we support basic democracy. It was a referendum, the people decided. There is nothing to argue about.
“I think from a German economic perspective the UK is a very important trade partner, and we should try to get an agreement on both sides.”
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