Brexit news: Merkel nightmare: Germany to pick up tab for Brexit – expert warn |


As Brussels bosses count the cost of life without Britain, Germany will be expected to pay £11.7billion more, or 42 per cent, in to the EU’s coffers. Angela Merkel’s nation currently pays in £27billion in to the EU Budget, but over the next seven years the annual amount will go up to £39billion, according to German newspaper Die Welt.

The increase in contributions will make Berlin the biggest contributor to the EU on both a net and gross basis.

Matthew Lynn, financial columnist and author of ‘Bust: Greece, The Euro and The Sovereign Debt Crisis’, said Germany is “paying the price” for Britain’s exit from the bloc.

He wrote in the Spectator: “During the long, painful debate about the UK’s departure from the EU there were lots of different groups which, we heard repeatedly, would pay a price for that.

“But now that we are out, we are finally getting a definitive answer. There will be a price to be paid.

“But it will be German tax-payers who will be picking up the tab, not anyone in Britain. And that could hardly come at a worse time.

“In effect, Germany is paying the price for Britain’s departure.”

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It comes after the European Commission’s former budget chief has claimed Britain’s EU divorce is to blame the bloc for dragging its feet over the next financial deal.

The seven-year multi-annual financial framework is expected to run between 2021 and 2027, but has been subject to multiple delays as member states row over its size and use.

EU officials have predicted that Brexit has caused a €60-75 billion blackhole in the bloc’s next long-term budget.

Former German eurocrat Gunther Oettinger told politics news site Politico former EU Commissioner Jean-Claude Juncker’s Commission used Brexit “as an excuse” to present its budget proposal in May 2018, some five months late.

Mr Oettinger added: “Our work is still accepted as a basis for decision-making.

“There is the Juncker Commission proposal, and on top but embedded, there is the plans for recovery. In this respect our work has not been in vain.”

The next agreement is expected to be worth €1.1 trillion, with member states sending 1.075 percent of their gross domestic product to Brussels.

A €750 billion coronavirus bailout scheme will be attached the budget in order to pay for the recovery for pandemic-stricken industries and regions.





Read More: Brexit news: Merkel nightmare: Germany to pick up tab for Brexit – expert warn |

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