EU recovery fund

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Thierry Breton, the EU’s single market commissioner recently claimed that Britain would miss out on up to £45 billion of Brussels’ Covid recovery fund bailout. Unfortunately he forget to mention that the EU are borrowing 750 million euro for the Covid recovery fund . Since the only income the EU has are the contributions from the member states, and Britain was the second largest contributor, Britain would end repaying this money plus making a sizeable contribution to other EU member states share of the fund.In a separate announcement, Spain’s prime minister, Pedro Sánchez has hailed the EU’s €750-billion stimulus package for taking the project a big step closer to a “future United States of Europe”. Despite what many in the Remain camp claim, the creation of a United States of Europe has always been the prime objective of the Jean Monnet, the main founder of the EU. In his federal vision, the sovereignty of individual nation states disappears.

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