British Prime Minister David Cameron on Friday insisted that he would not pay an EU bill for an additional 2.1 billion euro (US$2.65 billion) contribution to the EU coffers at a time of increasing pressure at home for the nation to leave the bloc.
Thumping his fist in frustration, Cameron said “people should be in no doubt: as an important contributor to this organization, we are not suddenly going to get out our checkbook and write a check for 2 billion euros. It is not happening.”
Cameron said asking Britain for a top-up of some 20 percent in its contributions on short notice “is an appalling way to behave. We are not paying that bill on the first of December.”
The Netherlands too has been asked for a big top-up, of 642 million euros, which Dutch Minister of Finance Jeroen Dijsselbloem labeled as “extremely surprising, unpleasantly surprising.”
The EU Commission said the demand stemmed from the fact that the economies of some nation, like Britain, have grown more than expected at the start of the year.
Contributions are made according to economic size.
“This should not have come as a surprise” to Britain and other nations, since it was based on national statistics, EU Commission President Jose Manuel Barroso said. “We have been careful not to politicize the process we have been asked to administer” by the member states.
Cameron and Dutch Prime Minister Mark Rutte already discussed a common protest at the EU summit, which ended on Friday.
The Netherlands too is facing an increasingly vocal anti-EU camp.
“We are not going to take this lying down,” Dijsselbloem said.
Cameron said EU finance ministers would discuss the issue at an emergency meeting he had called for.
A longtime reluctant member of the EU, Britain has seen a surge in the popularity of the UKIP party, which wants to get Britain out of the EU, claiming its bureaucracy is profligate.
“The EU is like a thirsty vampire feasting on UK taxpayers’ blood. We need to protect the innocent victims, who are us,” UKIP leader Nigel Farage said.
The request for the budget top up comes at a time when Cameron has been telling his EU counterparts how well the British economy is doing in the face of the flagging fortunes on the continent, where even Germany is facing sagging growth.
Official figures on Friday showed Britain’s economic recovery is continuing despite a gloomy world environment.
GDP grew 0.7 percent in the three months through last month compared with the previous three months, remaining among the strongest growth rates among developed economies.
British Chancellor of the Exchequer George Osborne said the figures show that Britain “continues to lead the pack in an increasingly uncertain global economy.”
The domestic unit of the Chinese-owned, Dutch-headquartered chipmaker Nexperia BV will soon be able to produce semiconductors locally within China, according to two company sources. Nexperia is at the center of a global tug-of-war over critical semiconductor technology, with a Dutch court in February ordering a probe into alleged mismanagement at the company. The geopolitical tussle has disrupted supply chains, with some carmakers reportedly forced to cut production due to chip shortages. Local production would allow Nexperia’s domestic arm, Nexperia Semiconductors (China) Ltd (安世半導體中國), to bypass restrictions in place since October on the supply of silicon wafers — etched with tiny components to
Singapore-based ride-hailing and delivery giant Grab Holdings Ltd has applied for regulatory approval to acquire the Taiwan operations of Germany-based Delivery Hero SE's Foodpanda in a deal valued at about US$600 million. Grab submitted the filing to the Fair Trade Commission on Friday last week, with the transaction subject to regulatory review and approval, the company said in a statement yesterday. Its independent governance structure would help foster a healthy and competitive market in Taiwan if the deal is approved, Grab said. Grab, which is listed on the NASDAQ, said in the filing that US-based Uber Technologies Inc holds about 13 percent of
Taiwan is open to joining a global liquefied natural gas (LNG) program if one is created, but on the condition that countries provide delivery even in a scenario where there is a conflict with China, an energy department official said yesterday. While Taiwan’s priority is to have enough LNG at home, the nation is open to exploring potential strategic reserves in other countries such as Japan or South Korea, Energy Administration Deputy Director-General Chen Chung-hsien (陳崇憲) said. While the LNG market does not have a global reserve for emergencies like that of oil, the concept has been raised a few times —
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday received government approval to deploy its advanced 3-nanometer (3nm) process at its second fab currently under construction in Japan, the Ministry of Economic Affairs said in a news release. The ministry green-lit the plan for the facility in Kumamoto, which is scheduled to start installing equipment and come online in 2028 with a monthly production capacity of 15,000 12-inch wafers, the ministry said. The Department of Investment Review in June 2024 authorized a US$5.26 billion investment for the facility, slated to manufacture 6- to 12nm chips, significantly less advanced than 3nm process. At a meeting with