Qualified advisers answering your
Financial Questions
call 0800 092 1245

Is the EU taking control of member budgets?

A number of prominent figures within the European Union are now suggesting that the European Union itself should have the ability to cast an eye over draft budgets for member states. This is the latest in a long line of new regulations being suggested by those within the European Union to give more control over European Union members. But would this actually work?

The issue of budget problems has arisen only because of the Greek debacle which saw the Greek government effectively run out of money and go cap in hand to the EU and the IMF. The creation of a EUR30 billion bailout fund has taken away some of the short-term pressure although there are concerns about the relationship between the European Union, IMF and the Greek authorities. As a consequence, it is highly likely that member states of the European Union will need to have their future draft budgets rubber stumped by the EU before being passed by their local parliaments.

There is no doubt that such a move would not be well received in the UK, which is not part of the Euro zone at the moment, even if it is likely to become more European dependent in the future. This would certainly not be a vote winner in the next election!

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details