European Commission is bankrupt, needs urgent €2.7 billion injection

Barroso asks Schulz for help before a stop-payments needs to be issued

European Commission President Jose Manuel Barroso has made a desperate plea for extra cash to keep the institution afloat.

Opening the European Parliament's plenary session in Strasbourg on 21 October, parliament president, Martin Schulz, said that he had been contacted by Barroso with a request for an extra €2.7 billion in a supplementary budget for 2013 in order for the commission to meet its financial obligations.

If not, it will run out of money “by mid-November.”

Schulz told ...

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