With France gaining the support of the European Union in its promise of more money, Ireland will lose more than $ 200 million from the $ 1 billion promised in the Brexit compensation fund.

This week a compromise was reached mediated by the Portuguese.

The move should be approved by the European Parliament, with French MP Valerie Hierre, the main negotiator, saying the European Commission’s initial recommendation – most of which went to Ireland – was unfair.

Under the new rules, countries will be allocated money to their economies based on the importance of UK trade and the share of total EU trade that favors large countries. European Parliamentarian Barry Andrews likened Vienna Weil to “breaking and taking over” the French approach. “We have a big flaw,” he said Irish Freelance.

“We will continue to fight him, but it’s hard to know where he will end up.”

France has the support of Spain and Italy, but Ireland, Belgium and the Netherlands oppose it.

He said the Portuguese government, which has been the president of the European Union for six months, has reached a “balanced compromise”.

“The reserve aims to help all member states deal with the adverse effects of the UK withdrawal,” said Portuguese Foreign Minister Augusto Santos Silva. “In solidarity, we are committed to helping European regions, businesses and citizens, especially the hardest hit communities, to meet the unprecedented challenges of Brexit.”

Meanwhile, Ireland failed to present its plan to access the European Union’s Pandemic Fund before the target date yesterday.

Although not a difficult timeline, France and Germany sent stimulus packages to the European Union earlier this week.

German Finance Minister Olaf Schultz told a joint news conference that the two were involved in advancing the European project.

Approximately $ 900 million has been allocated to Ireland from the $ 750 billion pandemic stimulus fund, but the UK Brexit reserves come with conditions that do not provide funding.

These payments are linked to the economic reforms recommended by the Committee each spring, including Ireland’s requirements for dealing with business taxes, housing, and clean energy.

Scholes and the French mayor Bruno Le Meyer told the newspaper Irish Freelance This week is not about putting pressure on governments to impose taxes.

Ireland was able to send a revised budget plan or “stabilization program” to the Commission before Friday’s deadline.

He expects the Irish economy to grow 4.5 percent this year and 5 percent by 2022. Adjusting domestic demand – a more favorable indicator for the local economy – he expects to grow by 2.5 per cent this year and 7.5 per cent next year.

However, the unemployment rate is expected to be 16 percent this year and more than 8 percent by 2022.

Irish Freelance