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OTS: Brsen-Zeitung / No Plan B, commentary on the EU financial package by Andreas … | message

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, OTS: Brsen-Zeitung / No Plan B, commentary on the EU financial package by Andreas … | message, Forex-News, Forex-News


, OTS: Brsen-Zeitung / No Plan B, commentary on the EU financial package by Andreas … | message, Forex-News, Forex-News

No plan B, comment on the EU financial package by Andreas Heitker

Frankfurt (ots) – The blockade of the 1.8 Bill. Euro heavy financial package

Poland and Hungary have the potential to plunge the EU into another deep crisis.

But it’s not that far yet, even if no one in Brussels has done so at the moment

quite knows how the conflict over the new rule of law mechanism with which the

EU funds are to be linked in the future, can be solved. There is no

Plan B.

It is correct: Poland and Hungary are currently facing a huge threat

Blackmail potential in their hands because time is pressing for an agreement. It

is about money from the EU budget and the reconstruction fund, which actually

should be available for crisis management as early as the beginning of 2021. And

Countries like Spain and Italy are in dire need of these funds.

But not just them. It should be remembered that in recent years Poland

was by far the largest net recipient in the EU in absolute terms.

Structural funds and agricultural aid ensured an annual increase of more than

10 billion euros. In terms of economic output, Hungary was again the largest

EU net recipients: The money from Brussels made an average of 4 percent of the

Gross domestic product. In addition: From the billion dollar

Corona recovery funds should also benefit both countries greatly. Also

the governments in Budapest and Warsaw are therefore very interested in this

Financial package that they are currently blocking with their veto.

So there is no reason to rush to suspend the new one

Thinking about the rule of law mechanism or cutting back on the instrument

close. Most member states and the EU Parliament would do so

Do not support the step anyway. It would just be a devastating loss

Threatening credibility.

The same applies to considerations, the reconstruction fund simply from the

Take out the financial package and submit it through an intergovernmental agreement

to get started – and simply to exclude Poland and Hungary. The

Central, strong and solidary European crisis response of the EU would thus

hollowed out, devalued and partly robbed of its financing options.

On Thursday, the heads of state and government will begin with the

Deal with conflict. Nobody should look to insight or give in to quickly

Poland and especially Hungary hope. But it is also clear that in this dispute

not only do these two countries have leverage in their hands.

Press contact:

Stock exchanges newspaper

editorial staff

Phone: 069-2732-0

www.boersen-zeitung.de

Further material: http://presseportal.de/pm/30377/4766464

OTS: Börsen-Zeitung



, OTS: Brsen-Zeitung / No Plan B, commentary on the EU financial package by Andreas … | message, Forex-News, Forex-News

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