EU may run out of money this year – MEP

Budget Committee chair says funds may dry up

Chair of the European Parliament's Budget committee, Alain Lamassoure, (EPP, FR) cautioned that the European Union's budget for 2013 may run out.

"The Commission proposal to settle only part of the EU's €16.2 billion debt rolled over from 2012 threatens the EU with insolvency later in 2013," he warned.

The parliament agreed with the European Commission and European Council that all bills will be settled.

Lamassoure continued, "There is a threat that...

This story is part of New Europe's Premium content.

To Read the Full Story, Subscribe or Sign In from the ↑ Top of the Page ↑
new europe join now