According to recent numbers of the financial framework of 2014-2020, 9.3 billion euros will be retrenched to compensate the ongoing financial crisis. Van Rompuy, President of the European council, proposed this some days ago on the European meeting in Brussels about the financial framework.
With the proposal, the objective of the European engagement to spend 0.7% GNP on sustainable development cooperation by 2015 will not be achieved.
This is a bad deal concerning the growing problems such as the effects of global climate change, the growing gap between the rich and the poor, the rising food prices and prices of raw materials. The European Commission’s verdict on this is the following: Europe has to realize they share responsibility for those problems and has to help tackling these challenges.
What is your opinion? Was it a wise move to cut this budget which probably has little influence on solving the global crisis?