Brussels Wants Extra Money From Member States – 50 Billion for Ukraine

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Because of Covid, inflation and war: Brussels wants a supplementary budget worth billions from the member states

The EU Commission has asked the member states to make an additional contribution of several billion euros, 50 billion for Ukraine alone, to increase the EU budget for the next four years.

The additional money is needed to fill gaps created by unforeseen crises such as Covid, inflation and war, EU Budget Commissioner Johannes Hahn said in Brussels on Tuesday.

Speaking to reporters, Hahn said his move came after consultation with member states.

“My message to the prime ministers and finance ministers was clear: if we want to be a serious political and economic player on a global scale, we need more resources.”

Brussels’ top priority is Ukraine in the amount of 50 billion euros. The commission wants to help balance the war-torn country’s budget by 2027, but also boost recovery efforts.

An additional cash injection of 15 billion euros is earmarked for migration and neighborhood policy – which means more money for third countries to keep migrants in the country or take them back.

But even before the official announcement, the commission faced opposition from countries like Germany and the Netherlands, which are unwilling to pay for anything except Ukraine.

Some MEPs expect a tough struggle with member states.

Margarida Marques (S&D, Portugal): “This is a negotiation. So we need fresh money because there are new initiatives. (…) This is our challenge. It means that we have to negotiate.”

The Commission hopes to reach an agreement with Council and Parliament by mid-November – an optimistic estimate given that long-term budget changes typically take years.

Source Euro News