EU budget commissioner warns Brexit will put a €10bn-12bn hole in EU budgetUnveiling a Reflection paper on the future of the EU’s finances, EU budget commissioner Günther Oettinger warned that the “gap in the EU finances arising from the United Kingdom’s withdrawal and from the financing needs of new priorities needs to be clearly acknowledged.” He warned that the EU is “going to be down €10bn-12bn in our budget once the UK departs, so we cannot act as if it is business as usual. We need to be shifting expenditure and making cuts…But making cuts is not enough,” adding, “If …read more
Source: Open Europe
