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EU Economics

REVEALED: The 70 BILLION reasons why the EU doesn’t want Britain to LEAVE Brussels

EUROPEAN Union leaders are desperate for Britain to remain part of the bloc as its huge budget contributions will be sorely missed.

Politicians from across Europe have begun to panic as they have realised they will be €70billion short once the UK leaves the EU.Regional leaders met in Helsinki for the Conference of Peripheral Maritime Regions (CPRM), where they questioned the impact of Brexit on the EU budget.

Come March 2019, when  is finalised, the EU’s €1trillion budget will be severely depleted, which could be bad news for for some of the smaller regions of the member countries.

The 160 regional presidents gathered in Finland have expressed concerns about what the budget reduction could mean for them.

The EU is panicking as it realises it will be €70 billion worse off after Britain leavesGetty

The EU is panicking as it realises it will be €70 billion worse off after Britain leaves


But he said: “Regions can not pay the price for emergencies linked to challenges such as immigration, security and defence, renouncing cohesion policies and European solidarity.”He asked other leaders to come up with new sources for EU funds to fill the hole left by Britain’s departure, saying: “Personally, I think a tax on financial transactions should be seriously considered.”

The CPRM will meet with EU Commission boss Jean-Claude Juncker to remind him of the regions’ needs in the coming months as they worry what Brexit will mean for their bank balance.

Tuscan president Enrico Rossi has called on leaders to find new ways to raise revenuesGetty

Tuscan president Enrico Rossi has called on leaders to find new ways to raise revenues


Revelations of the EU’s budget worries come as the block tries to squeeze a huge £60billion divorce payment out of the UK.Theresa May has offered a payment of £20billion to Britain’s obligations to the EU but the block scoffed at the amount.

French President Emmanuel Macron dismissed the offer, claiming: “We are not halfway there.”

The idea was backed by Professor David Collins, an international law expert, who said the financial settlement issue could be resolved within “one to two months” of a tribunal convening.

Brussels already uses similar methods in resolving trade issues with global trading partners such as Vietnam and Canada.

Professor Collins, of London University’s City Law School, said: “There is an argument that the International Court of Justice at The Hague would not have jurisdiction over this, because it deals with issues between states, and the EU is not a state.”

http://www.express.co.uk/news/world/870646/EU-leaders-Leave-70-billion-euros-budget

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