‘ EU Money PROBLEMS Loom AGAIN Over UNPAID BILLS This Time ALL They WANT is 4.7 BILLION Euros ‘

Ace Finance & Markets News

#AceFinanceNews – BRUSSELS – July 18 – The European Commission has warned that it is running out of money again in the latest stand-off between the EU institutions over its unpaid bills.

The EU executive says that the bloc’s budget faces payment gaps worth €4.7 billion covering research and employment programmes, cohesion policy, and costs arising from the refugee crisis in Ukraine and Syria.

An autumn cash-flow crisis for the commission has become a perennial fixture in the EU calendar.

After repeatedly warnings from the EU executive that flagship programmes such as the Erasmus student-exchange scheme and the European Social Fund were within weeks of running out of money, the EU institutions agreed to amending budgets worth €6 billion in 2012 and €11.2 billion in 2013.

Speaking during a European Parliament debate on…

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