JEF Denmark & JEF Netherlands against the Frugal Four

Today, EU leaders will meet in Brussels to discuss the recovery plan to respond to the corona crisis and a new long-term EU budget. The loans proposed by the so-called Frugal Four would lead to further debts from countries already affected, which could have worse effects than the 2007/2008 economic crisis. Should austerity be forced within the European economic zone, it would affect all countries including the Frugal Four. This approach is neither in the self-interests of any EU Member State nor is it in the interests of the European Union as a whole. The nations of Europe are now a single entity when it comes to the world economy and the weakening of one is to the detriment of all. In this time of severe economic dislocation, Europe needs a decisive, joined-up approach where all countries pull in the same direction, towards recovery and future strength. We, therefore, call the Frugal Four to act for European solidarity, and to support a significant growth in the budget of the European Union.