Federal Finance Minister Wolfgang Schäuble (CDU) expects according to information obtained by SPIEGEL, rising financial burdens for Germany following the withdrawal of Britain from the EU. "The loss of the second largest net contributor" to the EU budget is threatened, officials from the German Finance Ministry warn in an internal document. After Brexit, Germany's share in the economic strength of the rest of the EU climbs to 25 percent instead of 21 percent today. As a result, an "increase in the German share in the financing of the EU budget by around € 4.5 billion for the years 2019 and 2020" is to be expected.
The assumptions are based on the current financial framework and contained "no conceivable compensatory reactions" write the officials of the Ministry. As an example, the paper lists future contributions of Britain to be paid by the country if it wants to retain access to the single market. Also savings in the EU budget are mentioned as a possibility.
The deputy chairman of the Budget Committee of the EU Parliament, Jens Geier (SPD) wants the British continue to participate in the financing of the EU, depending on how closely their future connections will be to the Community. "If you take part in several policy areas, also the amount increases that you have to pay," says Geier. The German EU Commissioner Günther Oettinger, according to SPIEGEL information, called at the meeting of the EU Commission on Wednesday that the EU should deal as quickly as possible with the question of how Brexit affects the medium-term financial planning.
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