Spain and the Upcoming Budget Reform

Posted on by

As efforts continue to resolve the deadlock over the forthcoming reform of the EU budget, this article from reuters give some background on what the impact on Spain might be.

“Spain is set to be the big loser in tough negotiations on the EU’s 2007-2013 budget as the bloc’s paymasters led by cash-strapped Germany seek to limit their contributions and divert scarce resources to poorer new members in eastern Europe. Madrid has received a net 93 billion euros in EU funds since joining the EU in 1986, a cash injection that Spanish officials say surpasses U.S. aid to other European countries received under the Marshall Plan after World War Two”.

This entry was posted in A Few Euros More, The European Union and tagged , by Edward Hugh. Bookmark the permalink.

About Edward Hugh

Edward 'the bonobo is a Catalan economist of British extraction. After being born, brought-up and educated in the United Kingdom, Edward subsequently settled in Barcelona where he has now lived for over 15 years. As a consequence Edward considers himself to be "Catalan by adoption". He has also to some extent been "adopted by Catalonia", since throughout the current economic crisis he has been a constant voice on TV, radio and in the press arguing in favor of the need for some kind of internal devaluation if Spain wants to stay inside the Euro. By inclination he is a macro economist, but his obsession with trying to understand the economic impact of demographic changes has often taken him far from home, off and away from the more tranquil and placid pastures of the dismal science, into the bracken and thicket of demography, anthropology, biology, sociology and systems theory. All of which has lead him to ask himself whether Thomas Wolfe was not in fact right when he asserted that the fact of the matter is "you can never go home again".