The proposal referred to as Next Generation EU amounts to an attempt by Brussels bureaucrats to corrupt democratic states in Europe, said Professor of Public Finance at the Technical University of Berlin Markus Kerber in an interview with the weekly Echo24.
“Basically, the proposal suggests that many countries will borrow a lot of money. And because this money is to be returned in thirty years and the repayment phase will not begin until 2028, I consciously call it an attempt by the bureaucracy in Brussels to corrupt national democracies,” he said in an interview with Echo24.
It’s a kind of corruption, according to Kerber, to telling national governments, “here you have the money and you can spend it immediately. It will be paid off later.” That’s an offer that few member state governments would be able to resist, receiving significant amounts of funding that can be used to spend on pet projects for voters to win re-election.
That is why we see the strongest support for the proposal coming from Italy, France, and Spain, he said, because it offers the governments of these highly indebted countries completely new political possibilities.
However, the money will have to be repaid to Brussels over the next thirty years. Kerber stressed that Czechs should know that in this proposal, Czech fiscal policy is sacrificed on the altar of the EU. More specifically, on the altar of the southern wing of the eurozone, he warned.
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