EU offers no money to Eastern Europe for struggling financial crisis; the organization itself is in want

PanARMENIAN.Net - At the EU summit on Sunday Angela Merkel and other EU leaders flatly rejected a new Euro190 billion bailout plan for Eastern Europe. Czech Prime Minister Mirek Topolanek, who chaired Sunday's talks, backed the Chancellor, declaring there is no necessity to agree to one single aid plan for all the Eastern European and Baltic states. In Merkel's words, additional aid should be given to struggling nations only on a case-by-case basis. "A one-size-fits-all bailout is unwise. The situation is substantially different in every Central and Eastern European state," she insisted.

On the eve of the summit a number of Eastern European states under the direction of Hungary and Poland and with support from Austria demanded that 'richer' members of the EU should lend them Euro190 billion as economic aid to back up the banking system and the rate of currency exchange, thus stimulating the economy. However, 'rich' states are growing poor before our eyes and they can't choose but care for their own future and not for that of Eastern European countries that have not yet broken off the habit of seeking support everywhere - first in Moscow, now in Brussels and Washington.

But far more serious shock awaits the program "Eastern Partnership". The EU states have expressed their dissatisfaction about the intention of European Commission to allocate Euro600 million for the realization of the initiative "Eastern Partnership". At the meeting between the foreign ministers of the EU states in Brussels the issue of the budget for the initiative was discussed. It was noted that the European Union allots too much to Eastern partners, while the scope of assistance rendered to southern partners is rather scanty. As German FM Frank-Walter Steinmeier noticed, Official Berlin is against increasing funds for this initiative. However, after the meeting between the German and Polish Foreign Ministers, FM of Poland Radoslaw Sikorski declared Germany was going to render financial assistance to the project. In his turn, French FM Bernard Kouchner suggested the funds should be cut down to Euro250 million, thus annually allotting Euro15 million to each member of the initiative. The project of funds to be allocated to "Eastern Partnership" will be finally ratified at the next EU summit due on March 19-20, theews.pl reports.

Of course, the program "Eastern Partnership" will in no case be fully rejected; after all politics is primary and funds for it can always be found. Let us not forget that even at the time of the deepest crisis the USA always 'got' money for supporting the 'necessary' countries and partners. So, on the whole, member-states of the project have nothing to worry about. Certainly, there will be little money and it should be spent strictly consistent with the project items.

As for the Eastern European states, most likely, from now on they will have to count only on themselves. It's difficult, unpleasant but not fatal. Let us not forget that the current crisis, along with objective causes, arose thanks to excessive infusions into the economy of the same Eastern European and post-Soviet states.