An excellent article by Sid´s old paymasters today, the Guardian.......a few quotes first then the full article attached....enjoy
The UK’s withdrawal from the European Union has left a huge €75bn (£62bn) hole in the bloc’s budget for the next seven years, 2021 to 2027. “And now we are fighting like ferrets in a sack,” said one EU diplomat with a sigh.
Without agreement, everything risks grinding to a halt in just nine months’ time, including the flow of cohesion funds, the cash dedicated to supporting the poorest member states.
There are two main rivals in the budget battle. On one side are those who proudly describe themselves as “the Frugals” – the Netherlands, Austria, Sweden and Denmark (although there are some concerns within the camp that the new Austrian coalition government, being a bit Green now, has been lost to them, and that the Swedes are going soft). As the biggest net payers, the Frugals have been insisting on a budget of no more than 1% of the EU’s gross national income. The European commission’s initial proposal was for 1.1% – around €1.25tn over the seven years.
Then there are the “Friends of Cohesion”.
“The Friends of Corruption, you mean?” spat one EU diplomat from a Frugal state....Czech Republic, Hungary, Poland, Slovakia, Estonia, Croatia, Malta, Slovenia, Bulgaria, Cyprus, Lithuania, Latvia, Romania, Portugal and Greece.
Then there is France and Germany. Berlin’s main concern is that they don’t come out of it looking worse than the French. In Paris, the government just worries about how much cash is going to go to its farmers, said one senior EU official. The fragmentation of the national debates leaves it impossible to say what will happen, said a second official, with even Irish politics in turmoil following the election that has made Sinn Féin the second largest parliamentary party.
Going in to the summit, the European council’s president, Charles Michel, a former prime minister of Belgium, has been engaged in furious shuttle diplomacy around the capitals.
Some on here honestly cannot see the whole "house of cards" collapsing now we have pulled the plug'......IMO the EU will linger on on for a few more years..then take our view that the game is up and disintegrate....meanwhile PWC predict Italy, Spain and even the mighty Germany struggling for the next 20 years....whilst the UK (hopefully including my friends, the Scots and NI) forging ahead, firmly cementing their place in the top 10 nations in the world....one or two on here need to read, and act, on market predictions, rather than listen to their own echo in this footie bubble dominated by a few long-standing posters.....just because they shout the loudest, does not make them right, far from it!!
Full article
https://www.theguardian.com/world/20...ks-post-brexit