Post by rubl on Jan 18, 2019 12:26:30 GMT 7
Fiscally prudent , makes sense
"EU holds back budget cash to soften blow of no-deal Brexit
Brussels takes precautions to avoid financial shock.
Fearing Britain may stop paying into the EU budget if there's a no-deal Brexit, the European Commission is holding back some cash from spending departments.
Under its Brexit deal with Brussels, the British government agreed to keep paying into EU coffers until the end of the bloc’s current budget cycle in 2020. But the possibility that Britain may leave without a deal has prompted Commission officials to take precautions, even before the House of Commons rejected the agreement on Tuesday — a move that Michel Barnier, the EU's chief Brexit negotiator, said increased the risk of a no-deal departure.
...
The EU is not allowed to go into debt, relying on contributions from member states and revenue from customs duties to finance much of its operations.
..."
www.politico.eu/article/eu-holds-back-budget-cash-to-soften-blow-of-no-deal-brexit/
"EU holds back budget cash to soften blow of no-deal Brexit
Brussels takes precautions to avoid financial shock.
Fearing Britain may stop paying into the EU budget if there's a no-deal Brexit, the European Commission is holding back some cash from spending departments.
Under its Brexit deal with Brussels, the British government agreed to keep paying into EU coffers until the end of the bloc’s current budget cycle in 2020. But the possibility that Britain may leave without a deal has prompted Commission officials to take precautions, even before the House of Commons rejected the agreement on Tuesday — a move that Michel Barnier, the EU's chief Brexit negotiator, said increased the risk of a no-deal departure.
...
The EU is not allowed to go into debt, relying on contributions from member states and revenue from customs duties to finance much of its operations.
..."
www.politico.eu/article/eu-holds-back-budget-cash-to-soften-blow-of-no-deal-brexit/
