EU runs out of money

24th October 2013, Comments 0 comments

“Brussels could stop European fund payments,” announces Novinar, which reports that “with a shortfall of €2.7bn, the European Commission budget is insufficient to cover its expenses.”

 EU runs out of money
Novinar

On October 22, the European Parliament agreed to present an adjusted budget to avoid default on EU commitments. However, the daily also quotes Bulgarian MEP Ivaylo Kalfin who warns that "from next year, the threat to EU payments could have a considerable impact on citizens and local governments."

The socialist parliamentarian points out that if the 2014 budget is subject "to cuts of €8bn," there will "serious consequences for research and innovation, youth mobility and new technologies".



Read this article in Dutch.

Reprinted with permission of Presseurop.

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