Nobel Prize money contributes to EU financial woes
Friday, 12 October 2012
Nobel Peace Prize awarded this year to the European Union could
contribute to easing the EU financial woes. The prize is worth
€1.15 million, which represents more than 0.00001 percent of the EU
According to various Swedish media reports and analysis reviews, an
example of what the money would be enough for, from the prize, is that
it will contribute to Skr0.2 per European Union citizen.
The Union's annual budget is around Skr1300 billion. EU institutions in
Brussels uses only about 6 percent of the money. The rest is paid to
the member countries and are used, for example, in agricultural
subsidies, and various growth projects.
The prize, the EU may used to scrap two Spanish fishing boats, which
they have been continuously paying money for according to the
Swedish business daily, Dagens Industri.
The money could also suffice, for example, for the expansion of 15
stables for French farmers, in terms of what it has previously
considered as cost for these types of projects.
The prize money would also be sufficient to pay for office expenses for some 100 MEPs for two years.
So winning the prize is likely a win - win situation for the EU.
by Scancomark.com Team