The Womble Is Confused

Being a very simple womble, I'm a little befuddled over the European Commission's "recovery plan", launched amid much trumpeting today.

The figure of 200bn Euros has been mentioned, in the context of whatever the Euro-twaddle is for "fiscal stimulation". It is hoped that it will save "millions" of European jobs. The Commission says that the money will be used to improve job training, energy efficiency, broadband access (!) and helping the car industry "go green".

Most of the money for this recovery plan - 170bn Euros - will come from the member states (some member states paying more than others, with the UK.....you know the rest). The other 30bn Euros will come from the EU, who got it from, err....the member states.

So, bear with me while I try to get my little furry head round this. The member states give 200bn Euros to the European Commission, so that the European Commission can give out 200bn Euros (doubtless minus administration costs, which will be massive) to the member states, so that the member states can use the money that was theirs in the first place to subject their own economies to "fiscal stimulation" in a way laid down by the European Commission.

One of us is completely insane - it's either me or the European Commission.

And another thing: this money, which we're going to give to the European Commission; this (mmm...let's see...170bn Euros divided by 27 member states multiplied by the let's shag the British adjustment factor)...let's say 15bn Euros.

Is that new money ? Is that in addition to the colossal amount that Brown and Darling threw down the tube on Monday ? And in addition to the £55.8bn that Dick Puddlecote reports we're already giving the EU ?

I think I'll go and lie down for a while....