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|   16/10/2019               |   Financial Times             |   Elvire Fabry   |   Henrik Enderlein   |   Lucas Guttenberg             |   Economie et finance

Money’s too tight to mention in the EU’s post-Brexit budget

The only consensus reached in Luxembourg was that almost all governments hate Finland’s plan.

EU discussions about money are always difficult, but an especially bitter battle is brewing over the union’s next long-term budget. A brief hiatus in Brexit business in Luxembourg on Tuesday allowed richer and poorer member states to lay bare their budget divisions during a tetchy General Affairs Council. Tensions boiled over so much that Europe ministers banged their fists on the table in protest against the Finnish EU presidency’s attempt to break a deadlock that has paralysed governments for over 18 months. The only consensus reached in Luxembourg was that almost all governments hate Finland’s plan. A reminder: the next EU budget needs to be agreed by the start of 2021 (it runs for seven-years). Negotiations will be bloodier than any before as Brexit means a €10-15bn annual cash-crunch, leaving the EU scrambling to fund new spending challenges like climate change and migration.

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