The EU is Broke: Ukraine Ate Its Budget

In 2020, the EU agreed on a seven-year budget of 1.1 trillion euros. “Two years later, this sum has already been allocated—five years too early,” Alastair Crooke reports. A month ago, Germany announced it had no more money to provide the EU and it would need to chop its spending by €30 billion. Given the way the illegal sanctions and suicidal energy policies adopted by the EU have razed the entire EU’s economic structure, there’s little available for other nations to provide. We’ll certainly see the rules-based nature of the EU finally coming out of the closet as Crooke notes:

“This call for funds represents the first time that the EU Commission is forced to start pleading with EU states for additional funding after a mere two years into a seven-year budget. The EU spending framework is confirmed every seven years, most recently in July 2020. Changes to the EU budget are ‘supposed to be’ approved by a unanimous decision of all member states. Hungary, for one, wonders whether unanimity will be respected.” [My Emphasis]

On top of the EU demand is the NATO/Ukraine demands. Hungary’s Orban publicly announced where the money disappeared to—Ukraine, the entire €30 billion reserve is kaput, “burned” as Putin would say. Many EU policy goals now are also “burned.” And given the austeric EUCB deficit rules for nations, vast turmoil is very likely to occur system-wide excepting the few nations like Hungary whose leaders were able to see the consequences of EU/NATO actions. And then there’s the issue of having enough money to pay for gas this Winter, which six months ago didn’t loom as the huge problem it is now.

France’s demographics differ little from the rest of Europe making it possible for the troubles it experienced to erupt elsewhere even without that sort of provocation, although such tensions are high most everywhere. The hotter part of Summer is on its way. Which nation will erupt next?

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