ER Editor: We’re going for the headline here. Germany couldn’t transfer some 60 billion euros ‘left over’ from the Plandemic to fund its Climatescam (forgive our vocabulary) due to a court decision on how the government can use its funds. This from a month ago (linked to below). Now the EU, by some mysterious means, isn’t going to have large sums available anymore for its own Climatescam. Further, individual countries are going to be able to exercise their own discretion in how they can use EU funds owing to them. This looks suspiciously like climate policies being railroaded through lack of funding, and the start of some national sovereignty independence. MEPs seem to have less power, too. Wait … they never had any to begin with. A lot are angry with this defunding.
We don’t know who is authorizing Charles Michel to do this, nor whether this man is still around. But it seems a move in the right direction.
A reminder that climate tsar and EU veteran Frans Timmermans stood down from the portfolio for no apparently good reason in early October. To run in Dutch politics, he said.
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While countries like France, Italy and Spain have publicly backed the €10 billion initiative, Brussels is facing criticism from more frugal European capitals, particularly in the north, that want to limit their EU budget contributions and ensure there is money for competing priorities like curbing illegal immigration and rising military expenditures.
Michel’s compromise would drop the renewables fund — officially dubbed the Strategic Technologies for Europe Platform, or STEP — to just €1.5 billion. The remaining money initially meant for the effort would get rolled over into a cash pot for military investments, according to the latest proposal.
In exchange, Brussels would offer countries more flexibility in how they can use payouts from the EU’s “cohesion” fund — budgetary injections for lower-income states designed to reduce economic inequality. In theory, that would enable countries to continue some needed renewable energy investments.
“This allows countries with access to European funds to use them in a simple and flexible way,” said one diplomat granted anonymity to comment on the negotiations.
Yet the potential cut is a foreboding signal of Europe’s mounting struggle to source the massive investments needed to hit its climate goals. Germany, Europe’s largest economy, also had to drastically scale back its climate budget recently after a court ruling. (ER: A court decision did not permit the government to use around 60 bn euros from the Plandemic for climate policies. This from a month ago — Scholz govt in crisis after budgetary manoeuvre to shift 60bn from C19 to Climate) And railing against the EU’s green transition costs has proved a winning political talking point for some on the right.
“We know that it’s not enough money,” said a second diplomat with knowledge of the talks, who acknowledged the diminished fund will only provide enough cash for “targeted” measures.
The “reality is really tough,” the diplomat added. “Budgets are tough everywhere.”
Renewable crisis
The plan to drastically slash the EU’s green tech fund does not have unanimous support. Leaders were unable to strike a final deal on Thursday night and will have to resume discussions in January ahead of an emergency EU leaders’ summit.
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MEPs are also furious about the suggestion, which flies in the face of the European Parliament’s repeated calls for STEP to receive more funds, not less. Their request faced opposition from EU capitals which, at a competitiveness council last week, largely pushed back against establishing a direct line of funding between the proposed Net Zero Industry Act and STEP.
CONTINUE READING HERE
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Published to The Liberty Beacon from EuropeReloaded.com
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