{"id":16333,"date":"2020-07-10T20:43:41","date_gmt":"2020-07-10T20:43:41","guid":{"rendered":"https:\/\/www.kumasionlinegh.com\/?p=16333"},"modified":"2020-07-10T20:43:43","modified_gmt":"2020-07-10T20:43:43","slug":"eu-chief-proposes-five-billion-euro-brexit-emergency-fund","status":"publish","type":"post","link":"https:\/\/www.kumasionlinetv.com\/?p=16333","title":{"rendered":"EU chief proposes five billion euro Brexit emergency fund"},"content":{"rendered":"\n<p><strong>EU Council president Charles Michel on Friday proposed setting up a five billion euro reserve fund for any unforeseen consequences of Brexit on bloc member states.<\/strong><\/p>\n\n\n\n<p>&#8220;Brexit is challenging for all of us and that is why&nbsp;we propose a Brexit&nbsp;reserve of five billion euros ($5.7 billion),&#8221; said Michel as he unveiled his latest proposal for a long-term EU budget that will be debated by bloc leaders next week.<\/p>\n\n\n\n<p>Brexit with or without a agreement on future ties &#8220;will have consequences in Europe for the member states and that&#8217;s why&nbsp;I think it&#8217;s&#8230; necessary to ask the commission to prepare for a needs assessment by November 2021,&#8221; he said.<\/p>\n\n\n\n<p>The EU and Britain are currently in negotiations to agree on a basis of trade relations after a post-Brexit transition phase ends on December 31.<\/p>\n\n\n\n<p>&#8220;We all know that the ongoing negotiations are not easy,&#8221; said Michel, who chairs EU leaders summit meetings.<\/p>\n\n\n\n<p>&#8220;And we know that probably by the end of the summer or in September, October, we will have a clearer vision about where we are in these negotiations process.&#8221;<\/p>\n\n\n\n<p>Ireland is expected to be the most affected by the end of Britain\u2019s membership of the EU, with Belgium and northern France also seen as vulnerable to potential economic shocks.<\/p>\n\n\n\n<p>The EU said on Thursday said it is planning emergency measures across dozens of sectors after the Brexit transition period and warned of &#8220;inevitable disruptions&#8221; even if a deal is agreed with London.<\/p>\n\n\n\n<p>&#8220;There will be far-reaching and automatic changes and consequences for citizens, consumers, businesses, public administrations, investors, students and researchers,&#8221; the commission warned, urging EU governments to prepare.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>EU Council president Charles Michel on Friday proposed setting up a five billion euro reserve fund for any unforeseen consequences of Brexit on bloc member states. &#8220;Brexit is challenging for all of us and that is why&nbsp;we propose a Brexit&nbsp;reserve of five billion euros ($5.7 billion),&#8221; said Michel as he unveiled his latest proposal for [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":16334,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"iawp_total_views":0,"footnotes":""},"categories":[42],"tags":[],"class_list":["post-16333","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - 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