Britain dodges another €0.7 TRILLION EU bullet thanks to Brexit

While you were having Christmas the EU Commission agreed to pay out another €38bn of borrowed money

© Brexit Facts4EU.Org 2021

€0.73 TRILLION has been borrowed by the EU Commission – Thank goodness for Brexit

Without Brexit the UK would have been on the line for the massive debts being accumulated by the EU Commission. Just after Christmas (28 Dec 2023) the EU Commission announced the approval of a further €27.5bn to be paid to six EU countries. This is on top of the €10.74bn it agreed to pay out just before Christmas, as part of its €0.73 TRILLION funding package known as ‘the Recovery and Resilience Facility’.

That's €38bn spent by the EU Commission while you were eating turkey and roast potatoes.

In a combination of grants and loans, Ursula von der Leyen’s EU Commission is spending borrowed money at huge levels – something it was never previously allowed to do under the Treaties. That all changed as a result of COVID-19 and the rules were torn up. The Treaties were overridden. Now the EU is borrowing enormous sums in the markets and it will be EU citizens who will end up footing the bill.

Brexit Facts4EU.Org Summary

The latest tranches of the EU Commission’s burgeoning debt

These are only the payments made just after Christmas. The full bill is astronomical.
Payments made on 28 Dec 2023, in billions of Euros

  • Italy : € 16.50
  • Germany : € 4.00
  • Greece : € 3.64
  • Portugal : € 2.46
  • Slovakia : € 0.66
  • Slovenia : € 0.23
  • TOTAL : € 27.49 billion

The above payments follow on from payments made just before Christmas, on 22-23 Dec 2023

  • France : €10.3 billion
  • Latvia : €335.7 million
  • Austria : €42.06 million
  • Croatia : €162.5 million
  • Czech Republic : €147.09 million
  • TOTAL : €10.74 billion

[Source: EU Commission 28 Dec 2023.]

© Brexit Facts4EU.Org 2023 - click to enlarge

In the week over Christmas the EU Commission agreed extra spending of €38.2bn - all borrowed

This is €38.2bn - in one week. All of it has been borrowed and will have to be repaid.

The map below gives an idea of the extent of the EU’s funding of ‘Recovery and Resilience’ projects since 2020 – all of which have used borrowed money.

© EU Commission 2023 - click to enlarge

Readers may note that the Commission made payments outside of the EU to a non-member country: Turkey.

Observations

Imagine if your bank or mortgage company sent you a statement saying you owed them for your share of almost three quarters of a TRILLION euros. (Approx £0.63 trillion pounds). You didn't have any say in that decision of course, because it was made by unelected bureaucrats in Brussels, but you still carry the can.

Yes, we're now out of the EU but that's the point. If we had not left we would be on the line for these soaring debts. And yes, we know that numbers are different when it comes to governments, but nevertheless this is an astronomical amount. The EU is presenting all of this as if it were generosity from Brussels. In reality it is all borrowed and all EU countries and their citizens are liable. This is something the Commission was never allowed to do before.

Before Brexit the United Kingdom would have been on the line for all this profligacy. Thanks to the vote to leave the European Union, however, the UK has dodged another massive bullet. Yet another Brexit benefit.

We must get reports like this out there

Reports like the one above take far longer to research, write and produce than many people realise. If they were easy, readers would see other organisations also producing these daily. However, there’s little point in the Facts4EU.Org team working long hours, seven days-a-week, if we lack the resources to promote them effectively – to the public, to MPs, and to the media. This is where you come in, dear reader.

Facts4EU.Org needs you today

We are a 'not for profit' team (we make a loss) and any payment goes towards the actual work, not plush London offices, lunch or taxi expenses, or other luxuries of some organisations.

We badly need more of our thousands of readers to become members, to support this work. Could this be you, today? It's quick and easy, we give you a choice of two highly secure payment providers, and we do NOT ask you for further support if you pay once. We just hope you keep supporting us. Your membership stays anonymous unless you tell us otherwise.

Please don't assume that other people will keep us going - we don't receive enough to survive and we need your help today. Could you help us? We rely 100% on public contributions from readers like you.

If you believe in a fully-free, independent, and sovereign United Kingdom, please join now by clicking on one of the links below or you can use our Support page here. You will receive a personal, friendly ‘thank you’ from a member of our team within 48 hours. Thank you.

[ Sources: EU Commission ] Politicians and journalists can contact us for details, as ever.

Brexit Facts4EU.Org, Tues 02 Jan 2024

Click here to go to our news headlines

Please scroll down to COMMENT on the above article.
And don't forget to actually post your message after you have previewed it!

Share this article on

Something to say about this? Scroll down for reader comments

Since before the EU Referendum, Brexit Facts4EU.Org
has been the most prolific researcher and publisher of Brexit facts in the world.

Supported by MPs, MEPs, & other groups, our work has impact.

We think facts matter. Please donate today, so that we can continue to ensure a clean Brexit is finally delivered.

Any credit card user

Quick One-off

Donate

From £5 - £1,000

Monthly

Subscribe

From £3 per month

Paypal Users Only - Choose amount first

Quick One-off

Monthly