Print Magazine
Brussels Morning Newspaper
Friday, August 19, 2022
No Result
View All Result
  • Home
    • About Us
  • EU institutions
    • Commission
    • Parliament
    • Council
  • Europe
  • World
  • Economy
  • Culture and Society
  • In Depth
    • Ambassador’s Corner
    • The American Angle
    • Europe With Transparency
    • Sustainable Perspective
    • Place de la Bourse
    • The Macro-Economist
    • Southeast Europe
Brussels Morning Newspaper
  • Home
    • About Us
  • EU institutions
    • Commission
    • Parliament
    • Council
  • Europe
  • World
  • Economy
  • Culture and Society
  • In Depth
    • Ambassador’s Corner
    • The American Angle
    • Europe With Transparency
    • Sustainable Perspective
    • Place de la Bourse
    • The Macro-Economist
    • Southeast Europe
Brussels Morning Newspaper
No Result
View All Result
Home EU Institutions Parliament

EU member states to receive €5bn to mitigate Brexit impact

Marta Pacheco by Marta Pacheco
26 May 2021
in Parliament
EU member states to receive €5bn to mitigate Brexit impact
Share on FacebookShare on Twitter

Brussels (Brussels Morning) EU member states are set to receive five billion euro to mitigate the social and economic impact of Brexit. The decision was reached by the European Parliament’s Regional Development Committee yesterday, with the adoption of the Brexit Adjustment Reserve (BAR).

Negotiations will now start with the Council on the final shape of the mechanism. The draft report was approved by 35 votes in favour, one against and six abstentions.

“We must ensure that EU aid reaches the countries, regions, companies and people most affected by Brexit. European companies already suffering from the COVID-19 crisis shouldn’t pay twice for the Brexit debacle”, MEP Pascal Arimont (EEP) contended.

The fund worth five billion will be set up as a special instrument outside of the 2021-2027 Multiannual Financial Framework budget ceilings, the Parliament said.

MEPs want the resources to be disbursed in three tranches: pre-financing of four billion euro in two equal installments of two billion euro in 2021 and 2022 and the remaining one billion euro in 2025.

Finally, distribution of the funds should be made on the basis of expenditures reported to the European Commission, taking pre-financing into account.

“This reserve is very important and needs to be paid out as soon as possible, on the basis of statistical and measurable data”, Arimont maintained.

According to the new system, Ireland would emerge as by far the largest beneficiary in absolute terms, followed by the Netherlands, France, Germany and Belgium.

Eligibility

MEPs demanded that financial and banking entities benefitting from the UK’s withdrawal from the EU should be excluded from receiving support from the BAR.

Aid eligibility has to be specifically related to the withdrawal of the UK from the EU, including, support to SMEs, the self-employed, small-scale fisheries and local communities dependent on fishing activities in UK waters. 

EU citizens who have left the UK will also be eligible for aid to help them reintegrate. 

Parliament is expected to confirm its draft mandate to initiate the BAR during its first plenary meeting, in June.

Tags: Biweekly MartaBrussels LatestMain-Slider

Latest post

Afghanistan: One year of agony

Afghanistan: One year of agony

3 days ago
EU burned areas reach new high due to wildfires

EU burned areas reach new high due to wildfires

3 days ago

Most Read

  • Losing Balance on Bosnia and Herzegovina

    Losing Balance on Bosnia and Herzegovina

    0 shares
    Share 0 Tweet 0
  • What Are The Highest Paying Jobs In Finland?

    0 shares
    Share 0 Tweet 0
  • Here Are 10 Highest Paying Jobs In Norway 

    0 shares
    Share 0 Tweet 0
  • What Are The Highest Paying Jobs In Luxembourg?

    0 shares
    Share 0 Tweet 0
  • These are the 10 highest paying jobs in the Europe in 2022

    0 shares
    Share 0 Tweet 0
Facebook Twitter Youtube LinkedIn

About Us

Brussels Morning is a daily online newspaper based in Belgium. BM publishes unique and independent coverage on international and European affairs. With a Europe-wide perspective, BM covers policies and politics of the EU, significant Member State developments, and looks at the international agenda with a European perspective.

Category

  • Ambassador’s Corner
  • Belgium News
  • Brussels
  • Commission
  • Council
  • Culture and Society
  • Diplomacy
  • Economy
  • EU Institutions
  • Europe
  • Europe With Transparency
  • Features
  • In Depth
  • Member States
  • Middle East Eye
  • Opinion
  • Our pick
  • Parliament
  • Place de la Bourse
  • Southeast Europe
  • Sustainable Perspective
  • The American Angle
  • The Macro-Economist
  • Uncategorised
  • US Elections
  • World

More info

  • About Us
  • Advertising
  • Cookies Policy
  • Contact Us
  • FAQ
  • Jobs

Brussels Morning Newspaper - All Rights Reserved © 2020

No Result
View All Result
  • Home
  • About Us
  • EU Institutions
    • Parliament
    • Commission
    • Council
  • Europe
  • World
  • Member States
  • Economy
  • Culture and Society
  • In Depth
    • Ambassador’s Corner
    • Europe With Transparency
    • Place de la Bourse
    • The Macro-Economist
    • Sustainable Perspective
    • The American Angle
    • Southeast Europe
  • Print Magazine

Brussels Morning Newspaper - All Rights Reserved © 2020

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Cookie settingsACCEPT
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT