EU’s department of irony now in charge of aid
Having apparently run out of farms to subsidize, the EU is sending some spare 1 billion Euros to Africa to help farmers there cope with food shortages and rising prices. The funds were an unused portion of the EU’s agriculture budget, which is worth about 120 billion euros — more than 40 percent of the ...
Having apparently run out of farms to subsidize, the EU is sending some spare 1 billion Euros to Africa to help farmers there cope with food shortages and rising prices. The funds were an unused portion of the EU's agriculture budget, which is worth about 120 billion euros -- more than 40 percent of the EU's annual expenditures.
Having apparently run out of farms to subsidize, the EU is sending some spare 1 billion Euros to Africa to help farmers there cope with food shortages and rising prices. The funds were an unused portion of the EU’s agriculture budget, which is worth about 120 billion euros — more than 40 percent of the EU’s annual expenditures.
European Commission spokesman Johannes Laitenberge says the “crisis” in food supply helped spur the EU into action:
There’s a fairly broad consensus on the need to act here, given the crisis which is taking place,” he said. “In the Commission’s opinion, this is the most efficient and most rapid instrument that could be used.”
Pardon my cynicsm, but wouldn’t the best thing for African farmers be for the EU to eliminate its 120 billion in farm subsidies altogether?
UPDATE: My colleague Preeti reminds me that at least the EU is finally spending more on economic growth and employment programs than farm subsidies:
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