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https://warpcast.com/~/channel/europoooooor
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hellno the optimist
@hellno.eth
Economist hot takes > Europeans have no idea what “medical bankruptcy” is. Oh, and no EU leader has ever launched their own cryptocurrency. https://archive.ph/0D1Ov
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azb
@azbest
“The boring processes of rule by consensus can slow the EU to a crawl: it took four days and four nights of haggling to agree on the bloc’s latest seven-year budget, in 2020.” I like how that’s supposed to be a flaw.
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matt 💭
@matthewmorek
a “seven-year budget”? they had to do one better over the “5-year economy plans” communists used to do back in the day. i guess central planning never went away, the only thing that changed was the label and the source of these plans.
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azb
@azbest
Do you propose that the EU should just keep a stack of cash and yolo some spending every day?
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matt 💭
@matthewmorek
why jump straight to extremes? every government around the world approves annual budgets, because THINGS ACTUALLY CHANGE a lot within a any given timeframe. seven years is a big chunk of time. all you need is to look at the last five years, and figure out whether things stayed predictable or they kept changing i guess the all-knowing EU can read 7 years into the future
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azb
@azbest
I think The Economist referred to this, so calling it a “budget” may be misleading. It’s something that influences the annual budget, not the budget per se. https://en.wikipedia.org/wiki/Multiannual_Financial_Framework
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matt 💭
@matthewmorek
i see your point now. reading about the actual effectiveness of disbursement of funds it looks like the 7-year budgeting is slow and not all it's cracked up to be. spending is conditional and often rushed towards the final years ("use it, or lose it"), and it sounds like "checkbox spending", where gov'ts use the funds less efficiently to meet deadlines.
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