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SleepyHead

Eu Could Run Out Of Money By Mid-November

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EU could run out of money by mid-November

"In a shocking reflection of the recent budgetary crisis in America, the EU looks set to fall foul of a massive shortfall in November.

Parliament President Martin Schulz told MEPs this morning that he had received a call from Commission President Jose Manuel Barroso who warned the EU would default unless it was given an extra €2.7 billion from member states."

EU Shutdown?

EU shows itself to be running a ponzi scheme. "we'll default unless you give us more!"huh.gif

Edited by SleepyDog

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What are the consequences of letting it run out? Can anyone begin to itemize them? Be interested in seeing a cost benefit analysis - after all, >2Bn is a substantial amount and I'd hate to think we weren't getting our money's-worth. Equally I'd hate to think we would just jump into throwing more money into the EU moneypit without thinking through the alternatives and the consequences of every path.

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Why dot they just shut down the expenses hatch for a week or so, you know the one where the honourable members queue up for their regular handouts of free money, they call it reimbursements for the expencies they incur :lol:

Edited by papag

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Why dot they just shut down the expenses hatch for a week or so, you know the one where the honourable members queue up for their regular handouts of free money, they call it reimbursements for the expencies they incur :lol:

Ah yes, the hatch where honourable members queue early on a Friday morning to collect their per diem allowance (unreceipted), essential for the said member to carry out their parliamentary duties for the day, before making a beeline for the airport only to return as late as possible on Monday to catch the same office just before close. Kerching!

Vids on youtube of shy members with wheely luggage waiting in line, on mobile so can't post.

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Oh I remember a few weeks ago an article that there was a problem in that the eu budget was being cut but there were already over commitments due to member states- maybe the structural funds.

Edited by Ash4781

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If they are in financial trouble it can only mean the EU consumer economy is totally fecked!!

http://ec.europa.eu/budget/explained/budg_system/financing/fin_en.cfm

The EU is "self funded" by taxes. I can only assume that they have spent money they haven't collected because sales are down.

the 'UK rebate' – the UK is reimbursed by 66% of the difference between its contribution and what it receives back from the budget (worth about €4bn in 2010). The calculation is based on its GNI and VAT

Although I've just fixed it for them....

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Ah yes, the hatch where honourable members queue early on a Friday morning to collect their per diem allowance (unreceipted), essential for the said member to carry out their parliamentary duties for the day, before making a beeline for the airport only to return as late as possible on Monday to catch the same office just before close. Kerching!

Vids on youtube of shy members with wheely luggage waiting in line, on mobile so can't post.

last week on a Spanish TV panorama type programme they caught around 8 doing it and laughing whilst stuffing the cash in their pockets, it really is a disgrace but no one cares any more to do anything about it

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All Western states are bankrupt. The UK is more insolvent than the Eurozone. IF the EU goes down, they all go down.

But I couldn't see this news backed up by any other source so it must be the usual bull from UKIP.

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All Western states are bankrupt. The UK is more insolvent than the Eurozone. IF the EU goes down, they all go down.

But I couldn't see this news backed up by any other source so it must be the usual bull from UKIP.

You think? you really trust the mainstream media more?

Farage does say in the piece.

""The EU are trying desperately to keep this out of the news. It's a real predicament for them, at a time when the Eurozone economy is still struggling with mounting debt and a stunted recovery and when ill-feeling towards the EU project has never been so high."

Looks like a media blackout.

Edited by SleepyDog

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