REVEALED: Brussels moves to INCREASE Britain’s exit bill to plug EU’s budget black hole

28 Apr

The EU is facing a £10bn a year black hole in its finances after Brexit which could create severe political problems for the bloc at a time when it is already facing growing pressure from populist politicians. 

Net contributors to the project, like Germany, Austria and the Netherlands, want to streamline and downsize its gargantuan operations like the EU Commission and to rein in spending to cover the shortfall. 

But Southern European countries, which have faced years of punishing austerity and sluggish growth, want a cash injection to boost economic activity and feel this should be provided by those countries which have benefitted the most economically from the euro currency. 

Meanwhile the eastern bloc, the most recent additions to the club, are determined to fiercely protect the social cohesion fund which has pumped billions of pounds into their region over the last decades from being cut. 

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