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#55881 - 05/24/05 10:50 AM EU's Financial Support to Spain
jabch Offline
Member

Registered: 02/18/05
Posts: 311
As I understand the financial support that E.U. is giving to Spain, it will last until 2006. Now, the Spanish government is trying to negotiate to extend the duration of this support. However, once the financial support is stopped, what will happen? Is Spain obliged to pay it back? Start contributing money to help the new members of the Union? or will simply stop receiving this money and later might be asked to contribute to the E.U. finances?

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#55882 - 05/24/05 07:31 PM Re: EU's Financial Support to Spain
Fernando Offline
Executive Member

Registered: 07/05/01
Posts: 1551
Loc: Madrid, Spain
Our growing will drop a 1% aprox. Spain won't have to return the money invested by the EU, but will have to contribute to the EU budget as per its current economical status of a rich country.

Therefore, not only will we loose EU financial support, but we will have to pay for the financial support of eastern european countries.

And this is not a secondary issue. We are talking of about 12,000 million dollars every year.

Fernando

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#55883 - 05/25/05 04:44 PM Re: EU's Financial Support to Spain
jabch Offline
Member

Registered: 02/18/05
Posts: 311
Fernando, thanks! Actually 12,000 million dollars is about what Spain was receiving in support, right? Hopefully the economy will keep growing and 12,000 million won't hurt Spain's finances.

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