Ireland’s share in the European Union’s Compensation Fund will be reduced by $ 5 billion in response to French proposals to change the way payment is calculated. The move will delay the arrival of funds as talks between the member states on the issue could lead to a reopening.
Ireland will receive less than $ 1 billion from the fund this year in pre-financing, and the additional amount is likely to increase in the coming days. This is the largest allocation made to all member states under a fund agreed last year to support Brexit-hit EU countries.
Member State Governments have not adopted the method of calculating the share of each country proposed by the European Commission. Paris will suggest a different “allocation key” and lead to additional funding for larger countries such as France, Spain and Italy.
This will hurt 14 other countries and affect Ireland even more, according to Belgian MEP Pascal Aremond, a European Parliament correspondent in Brexit, who estimates that $ 200 million will be taken away from the billions of euros expected this year. Subject to change.
Ermont said the other 10 member states would fight the Netherlands, Belgium and Denmark, the countries most affected by the exit from the UK.
The Christian Social Party, the European Parliament, said: “The four largest nations are not the most affected.” “If the Brexit arrangement is intended to cover the costs of the most affected member states, we must stick to it.”
Compromise
The issue is currently being raised among national officials as the Portuguese presidency of the European Union seeks to reach a compromise to avoid delays in payments, which are designed to start work effectively and quickly.
Diplomats said the French proposal was backed by Italy, Spain and Greece, but that there was widespread recognition and sympathy for Brexit’s massive influence in Ireland.
Ireland has been hit hardest since Brexit. An EU diplomat said the commission had considered the proposal. Paris’s efforts to change the award criteria will cut Ireland and give France more money. This is not a good photo. “
France has already asked for a $ 400 million increase in quotas to provide additional support to fishing communities affected by reduced access to British fishing grounds.
The fund was approved as part of a tough budget deal that arrived last summer. Some member states are concerned about the re-examination of the issue, which was part of a delicate compromise designed to bridge the gap between member states’ different perspectives on budget issues and the new rules governing the rule of law.
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