https://sputnikglobe.com/20230616/germany-runs-out-of-money-for-eu-after-ukraine-spending-spree-1111211502.html
Germany Runs Out of Money for EU After Ukraine Spending Spree
Germany Runs Out of Money for EU After Ukraine Spending Spree
Sputnik International
Billions of euros in direct military, economic and financial support for Ukraine and billions more via European Union institutions have sucked the German budget dry.
2023-06-16T10:55+0000
2023-06-16T10:55+0000
2023-06-16T10:56+0000
economy
christian lindner
boris pistorius
ukraine
berlin
germany
european union (eu)
european commission
rheinmetall
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German Finance Minister Christian Lindner has put his foot down on the possibility of additional funding support for the EU's budget, saying the country has had to resort to penny pinching of its own.The finance minister's comments come following complaints from the European Commission that aid to Ukraine has "exhausted" the bloc's long-term 2021-2027 budget "to the maximum," and hints that Germany and other major EU economies should pitch in to make up the difference.The European Commission is expected to prevent a report on revisions to the budget next Tuesday, according to Lindner.According to the Kiel Institute for the World Economy, Germany has pledged some €4.24 billion in military aid, €1.74 billion in economic aid, and €1.3 billion in financial aid to Ukraine between January 2022 and February 2023. The European Union's institutions – which Berlin pays into heavily, committed €3.6 billion in military aid, €1.61 billion in humanitarian support, and €30.32 billion in financial assistance over the same period.Germany is third only behind the United States and Britain in terms of overall military and economic support for Ukraine.Berlin has paid a hefty price for its position, with its industrialized economy slipping into a recession and its arms and ammunition stockpiles depleted.German heavy armor has featured heavily in recent news reports about Ukraine’s sputtering counteroffensive against Russia, with dozens of Leopard and Leopard 2 tanks reportedly knocked out in heavy fighting. On Monday, Kiev called on Berlin to urgently send more main battle tanks so that Ukraine’s army can resupply. On Thursday, German defense giant Rheinmetall announced that no more Leopard tanks would be forthcoming in 2023.German Defense Minister Boris Pistorius has confirmed that Berlin would "not be able to replace every tank that is now out of action."On Wednesday, Germany unveiled its first-ever National Security Strategy, designating Russia as the "biggest threat" to peace and security in the Euro-Atlantic region.Moscow has urged Berlin and other European members of NATO not to kowtow to US policy on Ukraine, and has expressed bewilderment at European countries' readiness to push Washington's line despite the risks of recession and long-term deindustrialization of their own economies.
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germany, ukraine, spending, european union, budget, christian lindner, how much germany spends on ukraine, ukraine aid, germany's aid to kiev, how muach does eu spend on ukraine, european aid to kiev, leopard tanks ukraine, ukrainian tanks destroyed
germany, ukraine, spending, european union, budget, christian lindner, how much germany spends on ukraine, ukraine aid, germany's aid to kiev, how muach does eu spend on ukraine, european aid to kiev, leopard tanks ukraine, ukrainian tanks destroyed
Germany Runs Out of Money for EU After Ukraine Spending Spree
10:55 GMT 16.06.2023 (Updated: 10:56 GMT 16.06.2023) Billions of euros in direct military, economic and financial support for Ukraine and billions more via European Union institutions have sucked the German budget dry. At the same time, Berlin’s decision to dutifully abandon purchases of Russian energy at Washington’s behest has pushed the industrial powerhouse's economy into a recession.
German Finance Minister Christian Lindner has put his foot down on the possibility of additional funding support for the EU's budget, saying the country has had to resort to penny pinching of its own.
"In view of the necessary cuts in our own national budget, we are currently unable to make any additional contributions to the European Union’s budget," Lindner said in an interview with local media.
The finance minister's comments come following complaints from the European Commission that aid to Ukraine has "exhausted" the bloc's long-term 2021-2027 budget "to the maximum," and hints that Germany and other major EU economies should pitch in to make up the difference.
The European Commission is expected to prevent a report on revisions to the budget next Tuesday, according to Lindner.
According to
the Kiel Institute for the World Economy, Germany has pledged some €4.24 billion in military aid, €1.74 billion in economic aid, and €1.3 billion in financial aid to Ukraine between January 2022 and February 2023. The European Union's institutions – which Berlin pays into heavily, committed €3.6 billion in military aid, €1.61 billion in humanitarian support, and €30.32 billion in financial assistance over the same period.
Germany is third only behind the United States and Britain in terms of overall military and economic support for Ukraine.
Berlin has paid a hefty price for its position, with its industrialized economy
slipping into a recession and its arms and
ammunition stockpiles depleted.German heavy armor has featured heavily in recent news reports about Ukraine’s sputtering counteroffensive against Russia, with dozens of Leopard and Leopard 2 tanks reportedly knocked out in heavy fighting. On Monday, Kiev called on Berlin to
urgently send more main battle tanks so that Ukraine’s army can resupply. On Thursday, German defense giant Rheinmetall announced that
no more Leopard tanks would be forthcoming in 2023.
German Defense Minister Boris Pistorius has confirmed that Berlin would "not be able to replace every tank that is now out of action."
On Wednesday, Germany unveiled its first-ever National Security Strategy,
designating Russia as the "biggest threat" to peace and security in the Euro-Atlantic region.
Moscow has urged Berlin and other European members of NATO not to kowtow to US policy on Ukraine, and has
expressed bewilderment at European countries' readiness to push Washington's line despite the risks of recession and long-term
deindustrialization of their own economies.
