Posted on 07/17/2014 12:07:08 PM PDT by Olog-hai
The European Commission has warned that it is running out of money again, in the latest standoff between the EU institutions over its unpaid bills.
The EU executive says that the bloc’s budget faces payment gaps worth €4.7 billion covering research and employment programs, cohesion policy, and costs arising from the refugee crisis in Ukraine and Syria.
An autumn cash flow crisis for the commission has become a perennial fixture in the EU calendar.
After repeatedly warnings from the EU executive that flagship programs such as the Erasmus student exchange scheme and the European Social Fund were within weeks of running out of money, the EU institutions agreed to amending budgets worth €6 billion in 2012 and €11.2 billion in 2013. …
(Excerpt) Read more at euobserver.com ...
does anyone think student exchange programs and billions for research can’t be trimmed a bit??
A bloated bureaucracy running out of funds. How can that be? Those Europeans need to pony up and pay higher taxation.
“Mad” King Ludwig II of Bavaria (1845-1886), had his country absorbed in “greater Germany” two years after ascending to the throne at age 18. He remained king, but then decided to go on an extravagant spending spree on elegant, if very Baroque, fairytale castles and art projects.
Ludwig spent all the royal revenues on these projects, borrowed extensively, and defied all attempts by his ministers to restrain him. By 1885, the king was 14 million marks in debt, had borrowed heavily from his family, and rather than economizing, as his financial ministers advised him, he planned further opulent designs without pause.
Sound familiar? If not the EU bureaucracy, than perhaps closer to home?
Eventually he was deposed, and conveniently drowned after allegedly going for a swim in a very cold lake late at night.
they obviously need more bureaucrats
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