East Germany fearing HUGE Brexit headache: Concerns on budget blackhole after UK leaves EU

East Germany fearing HUGE Brexit headache: Concerns on budget blackhole after UK leaves EU
 

Germany currently receives around £16billion (€18bn) in funding from the European Union, with half of that going to what was East Germany due to the relative poverty of the area.
But with one the UK has left the bloc it will no longer be contributing to the EU money pot, leaving a gaping hole in the finances which will either need filling by raising contributions across the board or slashing budgets.
Britain has so far contributed about €10-12billion per year, minus the rebate, to the current budget which amounts to around 10 per cent of the entire EU budget, according to Jens Geier, the... read more

 
3 November 2017 in World News, Views: 40
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