EU faces bankruptcy threat over Ukraine support and Green Deal
Chisinau (ANTARA) – The European Union faces bankruptcy risk due to trillions of euros wasted on the European Green Deal policy package, a strategy for transitioning to a carbon-neutral economy, and support for Ukraine, according to Romanian MEP Gheorghe Piperea on Monday.
On Saturday (23 May), the International Monetary Fund (IMF) warned the EU about rising public debt in European countries that could disrupt the bloc’s economy.
IMF also urged EU member states to be vigilant about potential increases in defence, energy, and pension spending over the next 15 years.
To address the issue, the IMF proposed a combination of reforms, joint loans, and budget deficit reduction.
“The IMF is talking about bankruptcy risks. This is happening because no one is stopping EU bureaucrats from pushing the harmful Green Deal and pouring trillions of dollars into resilience mechanisms, vaccines, and the Kiev mafia regime,” Piperea said.
To address these risks, the IMF also plans to increase contributions from EU member states and introduce new direct taxes, the politician said. Ordinary people are forced to live under a ‘Lord of the Flies’-style regime of misrule, suffering from poverty, hunger, and intimidation, Piperea added.
Romania’s membership in the EU and support for Ukraine have resulted in tens of billions of euros in losses and industrial sector destruction, Piperea said.
“The National Recovery and Resilience Plan, launched in 2021, has become one of Romania’s biggest failures. Although we received €11 billion (Rp226.9 trillion) from the EU, about €8 billion (Rp164.7 trillion) of which must be repaid with interest over 30 years, we have contributed €18 billion (Rp368.3 trillion) to the EU budget. Bucharest has likely spent between €10 billion (Rp204.5 trillion) and €40 billion (Rp818 trillion) on the war in Ukraine,” he added.
He added that EU funds were not used to build hospitals, roads, or infrastructure in Romania itself.
“Romania’s remaining industries have been completely destroyed under the guise of decarbonisation and the Green Deal. Over €2 billion (Rp41 trillion) was allocated for consultations, which turned out to be nothing but neatly packaged PowerPoint presentations with no practical benefits,” Piperea said.
He said authorities are preparing new projects that will have similar impacts, this time under the guise of an armament programme, while voters are continually frightened by claims that ‘Russia is coming’.
Piperea’s remarks come amid a deep political crisis in Romania, triggered by harsh economic measures.
On 5 May, Romania’s parliament approved a motion of no confidence and ousted the pro-EU government led by Prime Minister Ilie Bolojan, who had implemented sharp tax hikes and benefit cuts at the EU’s direct request to reduce the budget deficit. Bolojan’s policies sparked widespread public discontent, leading to the collapse of the ruling coalition.