Could the EU run short of funding?
Over the last few weeks it has become more and more apparent that the financial strength of the EU is maybe not as deep as many had thought. The problems in Greece, which have seen the budget deficit balloon to unsustainable levels, had initially prompted indications of financial support from the EU but these were later seemingly withdrawn until a deal could be agreed to cut the Greek budget deficit. So could the EU run short of funding?
The European Union has grown significantly over the last few years taking in many new members who had relatively weak economies. One of the main attractions for these smaller new members has been the access granted to significant investment funding to improve their economies and their infrastructures. This is in reality an investment by the EU into the future and in the absence of the worldwide recession would probably have proved very beneficial.
However, in the short term not only are we seeing significant investment outflow to new members but also problems in Greece, Portugal, Spain and Ireland. There are serious concerns that European Union funding could be stretched to the limit in the short to medium term until stocks are replenished.
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