The EU’s avaricious 750 billion euro recovery package to help those hardest hit by the coronavirus pandemic has sorted member states. The design of the plan, mostly made of grants, has glinted fears among the so-called ‘frugal four’ (Austria, The Netherlands, Sweden and Denmark). In any way, as former Brexit Party MEP Jake Pugh told Brexit Pay attention to, there may be a bigger problem on the horizon.
He said: “Because of the way it’s done from top to bottom the budget, you’ve got net winners and losers.
“The two biggest recipients of the EU budget are Poland and Hungary.
“So not alone have we got a deal with the Frugal Four, but you may also see some of those real biggest net recipients now lose some of that.
“Which they are able to do if more funds are going to Italy and Spain.”
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‘The two biggest recipients of the EU budget are Poland and Hungary.’
Mr Pugh continued: “You then have the potential for more because, as you be sure, those two countries are on the EU ‘naughty step’.
“Also there is the context of the German Constitutional Court statute.
“From an economic perspective, the implications are going be minimal.
“It doesn’t buy with eurozone problems, it creates other problems potentially with Poland and Hungary, and it’s all on every side kicking the can.”
‘From an economic perspective the implications are going be minimal.’
The former Brexit Party MEP added: “Because it’s to to be the German presidency from July 1.
“Merkel doesn’t want to revelation up, she just wants to get to the end of her period as Chancellor.
“They’re just pushing the difficult down the road yet again.”
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EU’S BUDGET FACTIONS MAPPED
Leaders of EU countries had a virtual meeting to call up a compromise.
European Commission President Ursula von der Leyen described the exchanges as “positive”.
However, there was reportedly no breakthrough.
According to the EU Commission President, myriad leaders agree that the “severity of this crisis justifies an aspiring common response”, and that an agreement is needed soon.
EU Council President Charles Michel totaled that they will try to “accelerate the negotiations to have an efficient conjunction in July”.