Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Germany constitutional court suspends EU recovery fund ratification

  • 28-03-2021 11:00am
    #1
    biko
    Registered Users, Registered Users 2 Posts: 81,220 ✭✭✭✭


    https://www.dw.com/en/germanys-top-court-suspends-ratification-of-eu-recovery-fund/a-57018350
    https://www.rte.ie/news/2020/0721/1154717-eu-covid-budget-deal/

    Judges at the constitutional court say the legislation can only be approved once they have heard all the legal challenges against the debt-pooling €750 billion rescue fund, part of a wider EU package agreed last year.

    Under the EU’s pandemic recovery plan, a €750 billion fund has been put together to help stimulate member states’ economies over the next three years.

    The massive fund is part of a €1.8 trillion budget up to 2027 agreed by the EU’s 27 members in December.

    Ireland was one of a number of countries that argued successfully that how the funds are apportioned should be calculated, not on past economic data, but on how Covid-19 hits our economy next year and into 2022.

    Gavin Barrett, a professor specialising in EU law at UCD’s Sutherland Law School said Ireland may not need to turn to loans from the EU: "We may or may not avail of the loans that are available, as we’re borrowing at very favourable rates anyway."

    Professor Barrett said: "The original proposal of the Commission was that the needs of states would be calculated with reference to their economic performance before Covid actually hit, which wouldn’t have suited Ireland at all."

    Green Party MEP for Dublin Ciarán Cuffe said: ''It is disappointing that leaders failed to address the twin challenge of a global pandemic and a climate emergency with the resources that are needed.
    "Instead, a small number of countries have decided that electoral politics back home matter more than EU solidarity."

    If this package doesn't go through it may very well spell the end of the European Union.
    If it goes through it will probably block countries from leaving the EU as they all have signed up for the billion loan together.


Advertisement