Must Listen

Must Read

What Art Thinks

Pre-Millennialism

Today's Headlines

  • Sorry... Not Available
Man blowing a shofar

Administrative Area





Locally Contributed...

Audio

Video

Special Interest

Daily News
20164
“EC Fears Bankruptcy, Votes Through Emergency Cash Injection”
by novinite.com   
October 24th, 2013
l43-josé-barroso-111123140511_big

Тhe European Union has voted through EUR 2.7 B in new cash contributions from national treasuries after senior officials warned of the threat of chaos and unpaid EU bills.

MEPs approved the additional EU funding on Tuesday evening during an extraordinary meeting of Parliament’s Budgets Committee.

“The amending budget is needed because revenue from import duties collected at the EU’s external borders is far lower than was forecast by Eurostat (and endorsed by the EU member states) and thus had to be replaced by a higher GNI contribution,” according to a statement of the European Parliament press office.

The additional budget will take the cost of Brussels overspends and shortfalls to over EUR 12 B this year and is likely to fuel anger at a summit of Europe’s leaders on Thursday.

go back button