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EU handouts have long been wasteful. Now they must be fixed

by Euro Times
December 26, 2024
in Finance
Reading Time: 1 min read
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Budget talks within the European Union are a recreation of 27-dimensional chess. Members play concurrently towards each other, negotiating over many spending gadgets at anyone time. International locations are already making ready for the competition that begins subsequent yr, which is more likely to be significantly dramatic. The world across the EU has shifted, owing to the struggle in Ukraine, the continent’s more and more troublesome relationship with China and the rising urgency of local weather change. That necessitates what Mario Draghi, a former president of the European Central Financial institution and prime minister of Italy, has referred to as “radical change”. But the bloc’s greatest contributors, together with Germany and the Netherlands, can be reluctant to stump up additional cash. New outgoings for local weather change and defence must be funded by cuts elsewhere.



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