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EU commission asks for 11 billion to plug budget gap
EU Observer ^ | 03/28/2013 @ 09:29 | Benjamin Fox

Posted on 03/28/2013 11:28:37 AM PDT by Olog-hai

An extra €11.2 billion ($14.4 billion) is needed to cover unpaid bills from the EU budget, the European Commission said on Wednesday (March 27).

Budget commissioner Janusz Lewandowski said he tabled the amending budget in a bid to plug gaps in the 2012 and 2013 spending plans.

The request for cash “cannot come as a surprise,” he said, adding that earlier postponement of payments had created a “snowballing effect of unpaid claims transferred onto the following year.”

(Excerpt) Read more at euobserver.com ...


TOPICS: Business/Economy; Government; Miscellaneous; News/Current Events
KEYWORDS: budgetwoes; eucommission; eussr; taxandspend
The true face of EU “austerity” . . . countries must be austere in order to cover Brussels’ ever-increasing spending. (Over there, “tabled” means “put on the table”.)
1 posted on 03/28/2013 11:28:38 AM PDT by Olog-hai
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To: Olog-hai

Why don’t they just confiscate the money they need from the depositors at Eurozone banks?


2 posted on 03/28/2013 11:46:50 AM PDT by Blackyce (President Jacques Chirac: "As far as I'm concerned, war always means failure.")
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