EU’s flagship recovery plan ripped apart bit by bit as VDL and Macron ally gloat

Ann Widdecombe on Macron and Von Der Leyen’s ‘strategy’

We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info

France today received the first €5.1billion of the EU recovery funds destined for Emmanuel Macron’s government to ensure the successful bounce back from Covid for France. EU Commission President Ursula von der Leyen bragged about the first payment on social media, claiming this was the first concrete step towards full economic recovery.

She added: “With its recovery and resilience plan, France invests in the economy of tomorrow, focussing on the green & digital transitions, on competitiveness and on social and territorial cohesion.”

French European Affairs minister, Clement Beaune, also paraded the news.

He wrote: “Today, France receives its first instalment of the European relaunch: 5.1 billion euros to support all the actions deployed since autumn 2020!”

But in a stunning dismantlement of the plan, Generation Frexit’s Eric Noirez made the perfect comparison to unravel the botched EU strategy.

He tweeted: “Suppose you are in a bit of a difficult situation and a banker comes to offer you a loan of 10,000 euros so that you can ‘revive’.

“Imagine that to get this loan of 10,000 euros the 1st condition is that you pay 20,000 euros at the bank.

“Then imagine that this loan implies that you agree by contract that the banker will be the one who will decide how you are going to spend those 10,000 euros, but also in part of the way you are going to live on a daily basis and occupy your days.

“Let’s also imagine that the loan repayment terms are much less advantageous than those you could have obtained, with your profile, in just about any other credit institution.

“Let us also imagine that you are told that the payment of the loan will only take place more than a year after the start of negotiations and that it will be partial because you will ultimately only receive 1,275 euros of the 10,000 promised (and only 638 euros from 20,000 euros ‘invested’).

READ MORE: Dream on, Nicola! Sturgeon living in ‘fantasy land’, warns expert

“Imagine that the remainder 8,725 euros will be paid much later and on the sole condition that you continue to give pledges to the banker.

“Finally, imagine that at each step the banker swags and displays his logo everywhere, shouting that it is thanks to him that you are getting back on your feet.

“Imagine it all.

DON’T MISS:
Brexit LIVE: Desperate Rejoiner march unveiled to reverse EU exit [LIVE BLOG]
BBC QT: Stewart clashes with US pundit during Afghan rant [VIDEO]
Brexit Britain beats EU to crown for European financial centre [INSIGHT]

“And so I ask the question: WOULD YOU ACCEPT SUCH A LOAN OFFER?

“Probably never in life.

“Well replace 10,000 € with 40 billion, and replace banker with European Union, and you will find that France said yes.

“And the ‘machinist’ even dares to be proud of it.”

Source: Read Full Article