Re: Meanwhile in Spain ...
Originally Posted by
Zaphod
->
The EU budget?
"Reaching an agreement over the EU’s €1.8 trillion seven-year budget and recovery plan will be “virtually impossible” without face-to-face meetings, warned the German EU Presidency."
https://www.euractiv.com/section/pol...to-face-talks/
It's not enough money - they are already scratching their heads trying to think of ways to get more. One solution is social bonds and the other more mutualised debt.
It's no wonder the rich member states are up in arms about it. They've already been stung for 750 billion and allowed the ECB to borrow on the capital markets (mutualised debt on behalf of the 27) for the next 50 years. All that quantitive easing since 2010 has failed and the only thing keeping the Eurozone afloat is the continuation of pumping in billions and billions of QE debt each month. The ECB has created it's own zombie economy and zombie industries (through fake demand), all about to implode when deflation kicks in.
There's two options for the 2021 budget as I see it ...
1. Continue the existing budget until the 27 agree the 2021 budget, in which case the poorer states lose out and those green projects, big ideas etc all go on the back-burner, hampering the progress of supranationalism.
2. Override democracy in the EU and remove the voting rights of the wealthier nations then ram the new budget through - in which case it will be carnage with rich nations wanting to leave.
Decisions, decisions.......