EU’s post-Brexit budget will see 15 percent drop, Commissioner Cretu says

Newsroom 27/06/2016 | 17:38

The United Kingdom’s exit from the European Union will trigger a 15 percent fall in the EU’s budget after 2020, Commissioner Corina Cretu argues.

Speaking to Digi24 TV from Brussels, EU Regional Policy Commissioner Corina Cretu said she feared the impact of UK’s exit will be felt by the beneficiaries of regional policies across the bloc.

Speaking to Digi24 TV from Brussels, Cretu said:regional policy is the closest to the people. It is the most visible, as it shows how European funds change their lives, so from this point of view I’m worried because it’s clear that Britain’s exit will make the overall EU budget after 2020 fall by about 15 percent,” Cretu told Digi24 TV from Brussels.

Corina Cretu also stated that Romania must ally with Poland and with other states that have large communities in the UK to negotiate “very clear conditions.”

Cretu also said that currently the EU is conducting “full talks over fund re-allotments for other priorities than regional policy” and urged thatwe need to return to those values that formed the basis of the EU, with responsibility and solidarity from everybody.”

“At the end of the year we’ll have a revision of the multi-annual financial framework,” Cretu said. “I believe there will be voices, especially from big contributing states who would want to re-allot, though I don’t think this is possible for this period.”

Georgeta Gheorghe

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