Emmanuel Macron and Angela Merkel’s Franco-German campaign for a €25 billion Eurozone kitty to help finance crumbling member states has been brutally shot down by the Dutch Minister of Finance with one simple question. Wopke Hoestra laughed off France and Germany’s joint crusade for a multi-billion euro debt relief that would be paid for by the EU’s 28 member states by asking the rhetorical question “What do we need it for?” He added: “For me this is a solution without a problem.”
Mr Hoestra went on to say the EU had other issues it should devote itself to before adding “but that’s not part of it”, referring to Mr Macron’s budget proposal which after much pleading was given the nod by bosom buddy Ms Merkel. Poland joined the Netherlands in slamming the proposal, which has raised many questions about exactly how it would be funded, with Krzysztof Szczerski, who heads Poland's President Andrzej Duda’s cabinet, issuing a chilling warning to the bloc.
He said should the countries of the monetary union finance the budget themselves, it would not be an issue. “But if it is created at the expense of its contributions to the general budget, then this would be the end of the EU,” he added. Mr Macron is spearheading the campaign which he launched after a catalogue of crises with member states over the past few months that have put the Eurozone on the brink of collapse.
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