• Foreign Affairs
  • Money Matters
  • Domestic Affairs
  • IT, Innovation and Startups
 

Talk Finance

£$$€№₮IAL €¢¤₦¤MI¢ №€₩$
  • Foreign Affairs
  • Money Matters
  • Domestic Affairs
  • IT, Innovation and Startups

Talk Finance

  • Foreign Affairs
  • Money Matters
  • Domestic Affairs
  • IT, Innovation and Startups

In Foreign Affairs

European summit on budget failed: ‘The differences were too large’

22nd February 2020

European summit on budget failed: ‘The differences were too large’ Pin It

The European government leaders have failed to prepare a new budget for the next seven years. After two days of meetings in Brussels, the Belgian President Michel decided to suspend the negotiations. “We need more time to see how we can get out,” he says.

It is not known when the discussions will resume. “As my grandmother said: to succeed we have to keep trying,” said Michel.

The countries spoke intensively throughout the day. The Netherlands no longer wants to pay to the EU, while the other countries are asking for it. The Southern and Eastern European countries are keen to retain the special cohesion funds (to combat poverty), while the Netherlands wants to stick to the € 1.5 billion discount it has.

Another stumbling block is the percentage of the size of the European economy that has to go to the EU. Michel bets at 1.07 percent, while the Netherlands, Denmark, Austria and Sweden do not want to go further than 1 percent. That is a difference of 75 billion euros.

The Netherlands also wants to keep the customs revenues that end up in the treasury via the port of Rotterdam. The European Union wants a part to flow to the treasury in Brussels.

According to the President of the European Commission, Ursula von der Leyen, time is running out.

“If we don’t have an agreement before the end of the year, we can’t spend money.”

Michel is also optimistic after the failure of the discussions.

“I think it is possible, because everyone wants to get out and everyone wants modernization.”

Today, efforts were made throughout the day to find a solution. Prime Minister Rutte was involved in many of those attempts because he is the leader of what they call the frugal countries in Brussels. The attitude of these countries is said to be irritating, especially among net recipients, who receive more money from the EU than they spend on Europe.

Michel put a compromise on the table at around 7 p.m. “The differences were just too big,” Prime Minister Rutte analyzed afterwards.

“It is not a disaster. When the previous budget was drawn up in 2012, the first talks also failed and a few months later we agreed. It’s soluble. We can get out, but I have no guarantees.”

Share

No Comments

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Previous Post

Eurozone PMI indicates contraction,…

In Foreign Affairs

Eurozone PMI indicates contraction, some analytics hope for silver lining

View Post

Next Post

The British receive a new…

In Domestic Affairs

The British receive a new passport, made in Poland by a Dutch-French company

View Post

In IT, Innovation and Startups

AirBnB in spat with abusive landlords, the later use the platform to collect personal data

View Post

In Domestic Affairs

Heathrow airport lost 73 percent of passenger traffic in 2020

View Post

In Money Matters

Dr. Martens stomps the stock exchange

View Post

In IT, Innovation and Startups

Checkout.com reaches 15 billion USD in capital

View Post

Newsletter

Latest News

View

Euro area exports reach almost a pre-coronacrisis level

15th January 2021

View

London Stock Exchange got an approval for Refinitiv acquirement

13th January 2021

View

Poor logistics led to fishing collapse in Scotland

13th January 2021

View

EU is about to strike a deal with French vaccine maker

12th January 2021

Allow us to introduce ourselves

Talk-Finance.co.uk, the analytic media. We are focused on the fresh business, M&A and financial data. We pay attention to the interesting new projects and startups while not letting the whole picture to let unnoticed.

  • Investing.com
  • Runch.co.uk

Sign Up for Our Newsletter

Our friendly crew

  • Matthew Patridge, the chief Editor
  • Chris Kimble, the managing Editor
  • Matthew Weller, webmaster&technical stuff
  • Charles Sizemore, author
  • David Stevenson, author
  • Helen Rush, author

Contact us by [email protected]

© 2019 Talk Finance - All Rights Reserved. [email protected]