FLOODS – EU
November 1st, 2002
BY KEITH NUTHALLEUROPEAN Union (EU) ministers have formally approved the creation of an EU Solidarity Fund, helping Member States deal quickly with the effects of natural and man-made disasters; its funds will be mobilised immediately to assist regions affected by the floods of August and September 2002, which should help reduce the burden that has to be met by insurance companies.Initially, the fund will command Euro 728 million, which will be drawn from the EU's existing budget. It will be immediately plundered, with payments being made to Austria (Euro 134 ...
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