Wednesday, 14 November 2012

EU approves €5bn financial aid package for Egypt

Naharnet.com, a Lebanese news web site, writes,
The European Union has approved a 5.0 billion euro ($6.4 billion) financial aid package to Egypt after its economy was battered by a 2011 uprising that toppled Hosni Mubarak, the EU and Egypt said on Wednesday.
Much needed funding I am sure. But it is beyond comprehension how the EU could risk tax payer money when so many of their own members are broke and out of funds. To be polite: It is imprudent financial management and simply wrong and it is high time for the member states elected officials to wake up.

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