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The European Union (EU) budget is about one percent of the Gross Domestic Product (GDP) of all Member States amounting to about €240 per annum, per citizen. The EU budget redistributes more than €150 billion annually. These funds are directed towards agriculture and regional policy, which operate to...

After months of negotiations between Greece, the International Monetary Fund (IMF), the European Central Bank (ECB) and the European Union (EU), which acuminated in an overwhelming amount of over 60% of “no”-votes by the Greek citizens to the reforms attached to the second Greek bailout programme...