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The 27 European Union countries have still not agreed on the multiannual financial framework for 2021-2027. Without a clear UK decision on Brexit, the construction of the next EU budget is impossible (Photo: Martin Vorel)

As recession looms, Europe needs more spending

Brexit may have another victim and it is the EU budget for 2021-2027.

The uncertainty about the fate of Britain means that the budget is not going to be ready by the end of October and the negotiations are going to take more time.

In the worst case, structural funds for the developing economies of the EU will be blocked in 2021 when the European economy will be in a downturn.

This means delays in high profile tenders and other projects which helped to prosper all EU count...

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Disclaimer

The views expressed in this opinion piece are the author’s, not those of EUobserver

Author Bio

Piotr Arak is the head of the Polish Economic Institute, a public think tank in Warsaw.

The 27 European Union countries have still not agreed on the multiannual financial framework for 2021-2027. Without a clear UK decision on Brexit, the construction of the next EU budget is impossible (Photo: Martin Vorel)

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Author Bio

Piotr Arak is the head of the Polish Economic Institute, a public think tank in Warsaw.

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