David Cameron is attending an EU summit in Brussels today Friday February 4,2011 EUROPEAN Union chiefs could get powers to slap fines running into billions of pounds on Britain and other member nations under plans put forward by Euro-MPs yesterday. In a move that raised fears of even more British taxpayers’ cash being grabbed by Brussels, the European Parliament discussed a huge hike in the penalties for alleged financial irregularities. Supporters of the plan want countries who flout financial directives from the European Commission to be hit with fines equivalent to a maximum of 0.5 per cent of their national output. The measure is designed to help prevent future debt crises such as those that have embroiled Greece and Ireland. In Britain’s case, it could lead to a fine of around £7.5billion if Eurocrats disapprove of budget measures taken by the Government. The plan was put forward yesterday ahead of David Cameron attending an EU summit in Brussels today. The Prime Minister will argue that Britain should not be bound into costly measures designed to shore up the euro.UK NEWS
UK ‘FACES £7.5BN EU FINE OVER DEBTS’
By Macer Hall
Read more: http://www.express.co.uk/posts/view/227044/UK-faces-7-5bn-EU-fine-over-debts-UK-faces-7-5bn-EU-fine-over-debts-#ixzz1D52ywSlq
Saturday, 5 February 2011
Posts
