Sat, 25 Jun 2022 Today's Paper

EU chief proposes 5 bn euro Brexit emergency fund

11 July 2020 12:00 am - 0     - {{hitsCtrl.values.hits}}

A A A

Charles Michel

 

BRUSSELS (AFP) - EU Council president Charles Michel yesterday proposed setting up a five billion euro reserve fund for any unforeseen consequences of Brexit on bloc member states.


“Brexit is challenging for all of us and that is why we propose a Brexit reserve of five billion euros (US$ 5.7 billion),” said Michel as he unveiled his latest proposal for a long-term EU budget that will be debated by bloc leaders next week.


Brexit with or without a agreement on future ties “will have consequences in Europe for the member states and that’s why I think it’s... necessary to ask the commission to prepare for a needs assessment by November 2021,” he said.


The EU and Britain are currently in negotiations to agree on a basis of trade relations after a post-Brexit transition phase ends on December 31.


“We all know that the ongoing negotiations are not easy,” said Michel, who chairs EU leaders summit meetings.

“And we know that probably by the end of the summer or in September, October, we will have a clearer vision about where we are in these negotiations process.”


Ireland is expected to be the most affected by the end of Britain’s membership of the EU, with Belgium and northern France also seen as vulnerable to potential economic shocks.


The EU said on Thursday said it is planning emergency measures across dozens of sectors after the Brexit transition period and warned of “inevitable disruptions” even if a deal is agreed with London.“There will be far-reaching and automatic changes and consequences for citizens, consumers, businesses, public administrations, investors, students and researchers,” the commission warned, urging EU governments to prepare.

 

Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

Sell your vehicle & house fast with hitad.lk only cost is Rs.400, Advertise in Hitad.lk for free to sell your mobile phone. Want to sell your Pet, Advertise for Free in hitad.lk Search for Houses in Sri Lanka and find the best place through Hitad.lk find your best tuition place. Find the best partner for you, visit hitad.lk Find anything at any time hitad.lk.

  Comments - 0

Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

Sell your vehicle & house fast with hitad.lk only cost is Rs.400, Advertise in Hitad.lk for free to sell your mobile phone. Want to sell your Pet, Advertise for Free in hitad.lk Search for Houses in Sri Lanka and find the best place through Hitad.lk find your best tuition place. Find the best partner for you, visit hitad.lk Find anything at any time hitad.lk.


Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment




Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

Sell your vehicle & house fast with hitad.lk only cost is Rs.400, Advertise in Hitad.lk for free to sell your mobile phone. Want to sell your Pet, Advertise for Free in hitad.lk Search for Houses in Sri Lanka and find the best place through Hitad.lk find your best tuition place. Find the best partner for you, visit hitad.lk Find anything at any time hitad.lk.


Mirihana land reclamation project leaves farmers fuming

At present reclamation activities are underway at an 80-acre paddy land close

Is there a solution? Sustainable Fuel Bill for road transport

There is a great mismatch in spending between Sri Lanka’s total imports and

Aloka Pooja at Thanthirimale courtesy Wijeya Newspapers

The historical Thantirimale Raja Maha Viharaya, which associates itself with

Lessons from the fiasco over the detention of ‘Aeroflot’

As if Sri Lanka did not have enough problems, the government last week let an