Euro zone budget proposal leaves Poland fearful of waning influence

Janis A. Emmanouilidis, Warsaw Business Journal, 15.10.2012

Link to original article


Plans are afoot to create a budget for the euro zone that would be distinct from the long-term budget of the wider European Union, raising fears among Polish politicians that Poland could receive less EU funding and become isolated politically.

Draft conclusions of an EU summit due to take place this week say that “for the euro area, the objective is to move towards an integrated budgetary framework.” Mechanisms related to this “would be specific to the euro area,” the draft reads.

[…]

Lack of clarity

Nevertheless, details of the proposal for a separate euro zone budget are scant.

“There is a big lack of clarity about what the proposed euro-area budget might look like,” said Janis A. Emmanouilidis, a senior policy analyst at the European Policy Centre, a think tank.

“We don’t know what its function will be, how it will be funded and how it would be scrutinized … there are lots of unanswered questions,” he added.

It is also not known whether funds from the budget would be available only to countries that already have the euro, or whether they would also be available to countries like Poland that are obliged by treaty to adopt the single currency.

[…]

For the original article see here.


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