Europe unveils €125 MILLION in ‘exceptional support’ to food producers – EU farmers could lose up to $16 BILLION

Europe unveils €125mn in ‘exceptional support’ to food producers (RT, Aug 18, 2014):

The European Commission said it will provide up to €125 million from Monday till the end of November to compensate food producers coping with Moscow’s food ban.

“The exceptional measures announced today will include market withdrawals especially for free distribution, compensation for non-harvesting and green harvesting. The financial assistance will cover all producers whether they are organized in producers organizations or not,” the European Commission said in the statement.

Among the products that will get the special support are in season varieties that have no immediate storage option or market available. They include tomatoes, carrots, white cabbage, peppers, cauliflowers, cucumbers, and gherkins, mushrooms, apples, pear, red fruits, table grapes and kiwis.

“All farmers of the concerned products – whether in producer organisations or not – will be eligible to take up these market support measures where they see fit. Acting early will provide an efficient support to the price paid to producers on the internal market, help the market adjust and be cost effective,” said EU Agriculture and Rural Development Commissioner.

The EU member states are scheduled to meet for further discussions on Friday.

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It is the beginning of support for EU farmers who could lose up to €12 billion ($16 billion) as a result of Russia’s ban on Western food imports.

The ban will affect nearly 10 percent of EU exports.

Many countries in Eastern Europe rely heavily on Russia for trade, which prompted them to meet in Brussels to discuss compensation. Hungary, Russia’s largest trading partners inside the EU, likened the sanctions to “shooting oneself in the foot”.

Spain, for example, already estimates it will miss out on €337 million in food and agriculture sales due to blocked access to the Russian market. Italy has estimated its losses at nearly €1 billion.

Russia’s import ban on foodstuffs jolted business in the EU after Greek goods were held up at the border and then sent back.

The sudden decision to block EU food will flood domestic markets with products intended for Russia. Germany, Denmark, and the Netherlands are the biggest food exporters of food to Russia.

2 thoughts on “Europe unveils €125 MILLION in ‘exceptional support’ to food producers – EU farmers could lose up to $16 BILLION

  1. Of course, we mustn’t forget that whilst the EU is bankrupt, insolvent and broken, it can still ask the banksters to create money from thin air to pay the compensation that the taxpayers will then pay interest on forever.

  2. If the EU is bankrupt, just like the US, Italy, Spain and Poland, along with Portugal, Belgium, Ireland, and others, some members of the EU, some not……..this tells me the food war is starting. Food has not been an issue in the world economy in generations. Next, come shortages, especially if speculators are allowed into the game.

    As for the banksters being able to create money out of thin air…….Squodgy, do you remember about two years ago when the IMF suggested all member banks have 5cents on deposit for every dollar they claimed as assets?
    The banks would have had to borrow the 5cents, and the suggestion died.

    The latest move by Putin and China with their alternative to the western credit card, the Union, I believe that is the name of it, is a huge threat to the banksters. The banksters also live paycheck to paycheck on a massive scale, credit card borrowers carrying balances on their accounts are a huge part of that paycheck to these thieves. Should the UK adopt their credit card, and other members of the EU, it will be a very short period of time before they adopt Putin’s basket of currencies, dropping the dollar.

    Step by step, Putin is undermining the US and the west on every level. The credit card deal is a huge story, and it is getting zero coverage in the US propaganda media. This is the first, very powerful move against the greedy bankers of the west, and everyone who can, will join them.

    Everyone with half a brain despises the bankers….with good reason. This can take them down…….unfortunately, much of the west with them.

    And, when that grim day (for the greedy guts in the US) hits, the dollar will collapse completely. That will be a terrible day for everyone in the US……it will be a frigging nightmare for all.

    Nobody in the US has a clue what happens in a currency collapse. They have heard of it on the news about small nations…….never dreaming it could happen in the US. I see it coming very clearly, and very soon.

    The next big problem will be the FED. They have been cutting way back on QE. The market is so rigged, it is not yet reflecting it, but it is coming, only a fool would believe an honest market can keep going up endlessly as the US stock market continues to do. They keep saying how great a recovery we are having, and the rising interest rates (they have tripled so far this year) are GOOD.

    The other big weakness is the fact the FED is carrying 86% or more of US debt as foreign investment has nearly vanished. The FED isn’t part of the US government, they are a private bank. Many have tried to warn of this fact, but the truth will soon reveal itself.

    How long will it be before the FED decides it doesn’t want to carry the interest on the National Debt any longer, and starts charging the banks higher interest rates? The bankers are already hitting people hard in the real estate market.

    Unless some decent people get into power to bring back some industries to this nation, the FED will default the US national debt. The national debt is so big, it can never be paid off………..but I don’t see that happening.

    I wish I could see better things ahead, but I don’t.

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