Poland draws a line in the sand with the EU: we are owed the funds

[Hydrogen]

EU politicians and officials have been turning the financial screws on Poland. Has the country finally had enough?

The Polish government says it will make no further concessions to the European Union in order to unlock tens of billions in EU funding, arguing that Poland has fulfilled all its obligations and Brussels owes them the money.

“Poland fulfilled all conditions set by the European Commission regarding the payment of the Recovery Funds it is due,” Polish President Andrzej Duda said. He added that “he does not intend to answer any comments from Brussels on the matter.”

Brussels, for its part, has threatened Poland with catastrophic funding cuts totaling up to €110 billion; this would hobble the Polish economy, which has suffered due to the global economic downturn, inflation, and the refugee crisis from Ukraine.

In an interview for the conservative Sieci, Duda admitted that he does not believe that trying to fulfill the expectations of “the other side” could bring any results. “I believe that a lot of good will was showcased from the Polish side,” he stated.

“And we know very well that there is a group from Poland there that has a policy of contradicting the basic interests of the Polish state and is content when Poland is being harmed by Brussels,” said Poland’s president. He also mentioned the liberal-left representatives who “have seats in the European Commission and want to change the ruling party in Poland at all costs.”

According to the latest statements of the Polish authorities, Poland has still not sent a request for a payment of the Recovery Funds to Brussels. Meanwhile, information has appeared in the public space that the Commission confirmed that Warsaw has fulfilled 15 out of 20 milestones necessary for the payments of the first tranche of funds.

The National Recovery Fund for Poland involves €24 billion in grants and €11.5 billion in loans, but it is just one type of fund that Poland has yet to receive from Brussels. In June, the European Commission finally accepted the Polish plan, however, it made the payment of the funds dependent on the fulfillment of the so-called milestones. In the case of Poland, those milestones concern mostly the judicial system. Brussels does not recognize that Poland fulfilled its obligations, so the payment of the National Recovery Fund remains frozen.


https://rmx.news/poland/poland-draws-a-line-in-the-sand-with-the-eu-we-fulfilled-the-requirements-and-we-are-owed-the-funds-says-polish-president/

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I had no idea that there was conflict between Poland and the EU amounting to €110 billion in funding owed to Poland by the EU. Are europeans aware of this?

Usually american news reports on negative news trends in europe and abroad to make us feel better about our own problems. That would appear to be the most clickbait trend that has become normalized. While european news reports on negative trends in the united states to make europeans feel better about their own circumstances.

Not being someone who normally keeps track of current events in europe, is there a chance of EU breakup. They've done a good job maintaining the integrity of the EU. Many expected it would breakup when greece's debt issues arose. But it has managed to maintain stability in spite of setbacks.

Can a european who keeps track of current events explain what this could mean for crypto and the global economy, if anything.

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[Sithara007]

I would love to see the reaction from the German public. After the Brexit, it is mostly tax money from Germany which is flowing in to the EU coffers. A few years ago, it was OK since the inflation rate in Germany was very low. But now they are suffering from double digit inflation, as a result of sky high energy prices. Ever since Poland joined the EU in May 2004, it has been a major recipient of the funds (along with Romania and Bulgaria). The situation hasn't changed even after two decades. Countries such as Czechia and Hungary have become self-sufficient during the same period.

[Die_empty]

Not being someone who normally keeps track of current events in europe, is there a chance of EU breakup. They've done a good job maintaining the integrity of the EU. Many expected it would breakup when greece's debt issues arose. But it has managed to maintain stability in spite of setbacks.

Can a european who keeps track of current events explain what this could mean for crypto and the global economy, if anything.

The unity of EU is very important for the stability and strength of European nations. The EU has been a formidable force in the world because of its common goals. The breakup of the EU might give some perceived unfriendly nation the green light to carryout their expansionist agenda. But the breakup of the EU might be a good news to the crypto space because each nation would have to make their specific policies about cryptocurrencies instead of relying and abiding on laws made by the EU administrative setup. Some countries might decide to be friendly with the crypto industry because they might not be restricted by EU laws.

Just as Brexit destabilized Britain for some time, most European nations might have to endure some forms of economic drawbacks because their economies were once integrated. Less productive or financially buoyant European countries might suffer from recession because most of them depends on support from richer nations in the Bloc.   

[bittraffic]

Their support for sanctioning Russia was creating a crisis back home. Meloni is just one leader that might cause them to break up for she got support from other European countries.

How many times have they removed a prime minister in the past 4 years?
This alone tells you about the political instability. If Sunak is just not backed by a rich prominent family, he may be removed in less than 2 months also.

But crypto regulations might just be good if every country decides how they will regulate on their own.

[Hydrogen]

The unity of EU is very important for the stability and strength of European nations. The EU has been a formidable force in the world because of its common goals. The breakup of the EU might give some perceived unfriendly nation the green light to carryout their expansionist agenda. But the breakup of the EU might be a good news to the crypto space because each nation would have to make their specific policies about cryptocurrencies instead of relying and abiding on laws made by the EU administrative setup. Some countries might decide to be friendly with the crypto industry because they might not be restricted by EU laws.

Just as Brexit destabilized Britain for some time, most European nations might have to endure some forms of economic drawbacks because their economies were once integrated. Less productive or financially buoyant European countries might suffer from recession because most of them depends on support from richer nations in the Bloc.   

A break up would definitely be good for crypto.

Every poor european nation which once relied upon funding from wealthy EU nations, could feel pressure to offer crypto support as a means to fill budget deficits.

I think many EU member states already legalize and tax gambling and prostitution. There aren't many obvious untapped sources of revenue for them to source in the event of free EU money coming to an end.

[Mauser]

I would love to see the reaction from the German public. After the Brexit, it is mostly tax money from Germany which is flowing in to the EU coffers. A few years ago, it was OK since the inflation rate in Germany was very low. But now they are suffering from double digit inflation, as a result of sky high energy prices. Ever since Poland joined the EU in May 2004, it has been a major recipient of the funds (along with Romania and Bulgaria). The situation hasn't changed even after two decades. Countries such as Czechia and Hungary have become self-sufficient during the same period.

I am wondering the same myself. So far 2022 has been a terrible year with the Russia Ukraine war and the energy crisis including double digit inflation rates. Europe is in a dark place right now and it doesn't seem that 2023 is going to get better. Poland has been the number one country receiving funds from the European Union since the start. When is this going to change?The German infrastructure is failing, the digital expansion is not moving fast enough and more and more qualified employees are missing in the workforce. The country is falling behind in terms of investment - the last IMF report put Germany on last place in the European Union. Then we have the whole mess with the end of fossil fuels and shutting down all nuclear power plants.  I wonder how long this can continue until the German public will demand changes.