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After Brexit Germany's EU commitment could Rise by 4.5 Billion Euros - Alldamoney

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After Brexit Germany's EU commitment could Rise by 4.5 Billion Euros


DA MONIE – Germany would need to contribute an additional 4.5 billion euros per year to the EU budget when Britain finally leaves the European Union in 2019 and 2020 based on a report published by the internal Finance Ministry on Saturday.
Europe's largest economy, Germany allocates 15 billion euros to the EU budget each year and also makes the most net contribution
Germany's share of the EU’s gross domestic product needs increase to 25 percent from 21 percent currently to make up for Britain’s exit from the EU.

European Central Bank headquarters Frankfurt
With 15 billion 
euros Germany is the largest net contribution to the EU budget each year

The looming "loss of the second-largest net contributor" to EU budget  from the "Brexit" outcome is expected to make an impact on net contributors like Germany, which in 2015 sent 15.6 billion euros more to the EU than it received back. Britain was number two with net contributions of 12.7 billion. The biggest recipient from the EU was Poland, which in 2015 got 10.4 billion euros.

The added 4.5 billion euro figure does not contain "any conceivable compensation adjustments" to the budget that could possibly reduce the shortfall caused by Britain's exit as stated by Finance Minister Wolfgang Schaeuble. As a result of the Brexit vote, Schaeuble's ministry drafted a reform plan for stricter budget rules for EU states and a downsized European Commission.

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