FLOOD FUND
September 1st, 2002
BY KEITH NUTHALLTHE EUROPEAN Commission has proposed the creation of a central European Union aid fund commanding between Euro 500,000 and Euro 1 billion, which could be raided by Member States and eastern European countries wanting to join the EU that fall victim to natural disasters.Its move has been prompted by this summer's floods, which especially devastated Germany, Austria and the Czech Republic. The fund would have its own earmarked budget and would have to be approved by the European Parliament and the EU Council of Ministers to come into being. It would ...
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