EU chief proposes €5 billion Brexit emergency fund | The Malaysian Insight

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EU chief proposes €5 billion Brexit emergency fund

An no hard border poster on the Irish border in Newry in Northern Ireland. The post-Brexit transition phase ends on December 31. – EPA pic, July 10, 2020.

EU Council president Charles Michel today proposed setting up a €5 billion reserve fund for any unforeseen consequences of Brexit on bloc member states. “Brexit is challenging for all of us and that is why we propose a Brexit reserve of €5 billion,” said Michel as he unveiled his latest proposal for a long-term EU budget that will be debated by bloc leaders next week.

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