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Beginning of Paper
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EU Crisis
Spring 1999 was supposed to be the European Union's finest hour, as its Economic and Monetary Union finally got underway.
Instead, the union was thrown into turmoil. After a scathing report suggesting corruption and mismanagement in the European Commission, all 20 commissioners were forced to step d ....
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Middle of Paper
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.... The host government tried to get its EU payments reduced by 3bn euros, but for the talks to succeed the Germans had to settle for a cut of just 700m euros.
Austria, Sweden and the Netherlands are the other big contributors to the EU's coffers and they did not achieve the big cuts they hoped for either.
Italy could soon become one of the big spenders. In two years new rules for calculating each country's budget share will sharply drive up the size of Italy's contributions.
The Union's aims and prospects
During its brief histor ....
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SUBJECTS
