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Published byGwenda Morris Modified over 9 years ago
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Czech Hungary Poland & the Financial Crisis
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Background: EU accession: 2004 Subjects to excessive deficit procedures Have not yet adopted the euro
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Unemployment CZR – 8.6% HUN – 11.2% POL – 12.6% CZR – machinery and transport equipment, raw materials, chem. (exp. & imp. POL 6.3%, 7.1% ) HUN – machinery, other manufacture (imp. POL 4.7%) POL – machinery, manufacture, food and live animals, chemicals CZR – 3.1%, 38.6% HUN – 4.7%, 30.9% POL – 17.4%, 29.2% Occupied in agriculture & industry : Exports/Imports Background
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People at risk of poverty or social exclusion: Czech > 15%, Hungary > 30%, Poland > 25%. Common policy issues: public finance, economic growth, narrowing budget deficit, employment & labor force participation Background
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News: Inside the borders New President Milos Zeman, social democrat Budget deficit to exceed EU limit; IMF talks - no result EU freezes €4bn fraud case
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Give 1.5 bil Get 3.0 bil Czech Give 836.4 m Get 5.3 bil Hungary Give 3.2 bil Get 14.4 bil Poland EU Budget
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Millions of euros Comparison
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Millions of euros Comparison
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Millions of euros Comparison
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Millions of euros Comparison
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Millions of euros Comparison
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Czech Republic Czech is a net beneficiary, opposing decreasing of the budget. Money saved on CAP will be allocated to education, research and energy security. 5.4 bil euros for agriculture and 1.9 bil for development.
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Hungary 60% of EU funds will be used on economic development €48m for unemployment Biggest payout per capita 10% lower than the previous budget deal
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Poland Finance Minister Jacek Rostowski : “a unique, huge success” 52% of all public investment comes from EU budget "development eastern Poland" programme Wants a "European defense force" to guarantee European security
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Delaying Euro Adoption Excuse: Eurozone crisis Exchange Rate Mechanism II (ERM II) Minimum 2 years % of respondents who think that the consequences of adopting the euro are “very and rather negative”
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Conclusion Friends of Cohesion Poorer regions that benefit highly Positive ending
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The Guardian: EU budget: how much does each country pay and where does it get spent? EurActiv: EU budget summit aftermath: ‘Everyone’s a winner’ European Commission: Where does the money go? 4-traders: Government succeeds in EU budget negotiations Syracuse University Conference: “The Euro Crisis and the Future of the European Union” The Guardian: EU budget interactive The Guardian: EU leaders reach historic budget deal - as it happened Sources
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