Mrs von der Leyen announced the recovery plan will be based on the EU’s seven-year budget and will be topped up by a recovery tool “financed through a bigger headroom”. But she didn’t disclose the size of the recovery tool or the updated EU budget, following the European Parliament requested for a bundle worth $2trillion.
Mr Verhofstadt told the European Parliament: “I have to tell you that following the intervention of Mrs von der Leyen, I see business as usual. I hope I am mistaken.”
He added: “However, it looks like it’s old tricks, it’s repackaging, gigantic frontloading, and a multiplier of 45. “Even Jesus Christ was not capable of doing that when he multiplied the bread and the fishes. That is typical of how bureaucracy works.
“Mrs von der Leyen will ask more promises of the member states. Well, that’s what NOT to do. “Our member-states will be in shortage. They will all be in debt. You cannot increase the national contributions of the member-states who request more promises in the future.” He went on to suggest the EU fund itself via “a digital tax and other taxes against pollution”.
Mr Verhofstadt continued: “It’s due to lien we gave to Thatcher in the 80s we began to stop this normal method of free financing and that we began to ask for contributions from member-states. “We will need to make real financing for this union!
The most important problem is now, where we invest it, however, are we going to fund it!” At a surprise swipe her own country of Germany, Mrs von der Leyen suggested the single market was in danger of collapse if wealthier member countries were permitted to spend their way from this crisis.
Brussels suspended the EU-wide state aid restrictions in mid-March allowing governments to encourage big companies. Germany, whose economy makes up about a quarter of the EU’s GDP, accounts for more than half of the state aid accepted by the European Commission since the pandemic began. France and Italy account for about a fifth of the spending.
BREAKING BRITANNIA NEWS
- DISGUSTING – Churchill’s statue at Westminster Vandalised on D-Day by protesters.
- BARNIER ISNT HAPPY – Boris refuses to sign a substandard deal, that doesn’t respect the future independence of Britain.
- EU IN PANIC – Fourth round of trade talks DEADLOCKED – No progress made.
- OPINION – Barry Gardiner attempts an apology letter on why he broke social distancing rules.
- LONDON MAN ARRESTED – Female news reporter screams, left devastated in tears, live on TV, after a man shouted “Allahu Akbar” threatening to stab her as she’s assaulted.