eu under fire for spendthrift trillioneuro budget
Last Updated : GMT 10:30:02
Arab Today, arab today
Arab Today, arab today

EU under fire for spendthrift trillion-euro budget

Arab Today, arab today

Arab Today, arab today EU under fire for spendthrift trillion-euro budget

Bruussels - AFP

Europe\'s austerity-driven governments rounded on Thursday on the European Commission\'s proposals for a record, more than trillion-euro, EU budget as \"unrealistic\" and \"irresponsible\". Almost immediately after being unveiled late on Wednesday, the draft budget for the next 2014-2020 period came under strong fire from two of the bloc\'s \"big three\" powers -- Britain and Germany -- for a five-percent rise geared to send spending soaring to 1,083 billion euros ($1,570 billion). German Foreign Minister Guido Westerwelle, deeming it \"irresponsibly high\", reminded the European Union\'s executive arm that \"in times of general budgetary consolidation Brussels must also send a message to frugally and sustainably economise.\" London issued the same message, demanding Brussels \"take the same tough measures as national governments are taking across Europe\" and recalling that the union\'s top players had demanded zero budgetary growth for the future. \"We will stick to that,\" said a British government spokesman. The European parliament, which was clamouring for a five percent increase to cover new needs and fresh policies, applauded the proposals. Westerwelle said Germany saw one percent of EU economic output forecast as one trillion euros ($1.4 billion) for the period as sufficient to cover EU spending during that time. With a slight sleight of hand, commission officials put the budget at a total 1,025 billion euros, or 1.05 percent of the 27-nation bloc\'s gross national income, while omitting 58.3 billion of emergency funds set aside for emergencies such as aid or farm crises. Overall, the budget redefines EU priorities, reducing funds for farmers to invest instead in infrastructure and the greening of Europe with a strong focus on building cross-border energy, telecoms and transport grids aimed at streamlining economic integration in the world\'s biggest market. It also proposes the introduction of an EU sales tax and financial services tax to allow the bloc to raise its own funds rather than depend so heavily on funding from the EU member states. While the commission has until late 2012 to hammer through a deal on its bombshell budget, the fiery immediate responses presage months of heated debate. The Netherlands slapped down the idea of taxes, saying \"taxation is a national competence\", while Britain warned against the introduction of a financial services tax in Europe that could send firms running for cover elsewhere. \"We think this should be done on a global level,\" said a British diplomat. Monies raised directly through an EU VAT representing one or two percentage points of national sales tax and a financial transactions tax worth some 30 billion euros a year, would bring in more than 40 percent of EU revenue, said budget commissioner Janusz Lewandowski. Stepping onto contentious ground, the commission also suggested a sweeping reform of EU \'rebates\', a system of yearly paybacks to certain member states who claim excessive contributions into the EU coffer and which notably includes a huge rebate to London negotiated decades back by Margaret Thatcher. EU officials said complex routine haggling over the rebates to Britain, Germany, the Netherlands and Sweden could be replaced by a fixed lump sum in the interest of \"something very simple\". Admitting the lump payments would be \"a little under current amounts\", officials suggested 3.5 billion euros yearly to Britain, 2.5 billion to Germany, 1.05 billion to the Netherlands and 350 million to Sweden. Sweden said that would \"substantially increase\" its contribution to the EU budget while in Copenhagen, Denmark demanded its own rebate, saying: \"it is not reasonable that Denmark should have to finance the rebates of other wealthy countries without getting one itself.\" London \"will continue to protect the rebate\", a government spokesman said. \"Without it, the UK\'s net contribution as a percentage of national income would be the largest across the EU, twice as large as France\'s and Italy\'s, and almost one and a half times bigger than Germany\'s.\" Italy said it had set itself a priority of obtaining a reducation of its contribution and would not accept that some countries should have a privileged position. But also said that in general it accepted that the EU should have a budget to match its ambitions.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

eu under fire for spendthrift trillioneuro budget eu under fire for spendthrift trillioneuro budget

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

eu under fire for spendthrift trillioneuro budget eu under fire for spendthrift trillioneuro budget

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Japanese regulators raid Airbnb

GMT 00:44 2017 Monday ,20 November

Japanese regulators raid Airbnb
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Saudi, Bahrain target Iran

GMT 00:48 2017 Monday ,20 November

Saudi, Bahrain target Iran
Arab Today, arab today Europe turns on Facebook, Google

GMT 02:26 2017 Monday ,20 November

Europe turns on Facebook, Google
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Driverless, electric future just round

GMT 02:45 2017 Monday ,20 November

Driverless, electric future just round
Arab Today, arab today Tesla unveils its all-electric semi truck

GMT 02:59 2017 Saturday ,18 November

Tesla unveils its all-electric semi truck
Arab Today, arab today Mona Abdel Ghany increased artistic activities

GMT 12:15 2017 Friday ,17 November

Mona Abdel Ghany increased artistic activities
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 12:22 2017 Thursday ,16 November

Hanan Metawe denies apology for “Major Treason”

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 02:28 2017 Saturday ,18 November

Anti-drug operation nets 4 tonnes

GMT 01:34 2017 Friday ,17 November

Banyan Tree Phuket Takes Festive Season

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday