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Nigel Farage: UKIP leader resignation rejected

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6a00d8341bf8f353ef017eeacb1b2e970dNigel Farage is to remain as UKIP leader after the party rejected his resignation as of 11 May.

Farage said that he would stand down after failing to win a seat in last week's general election.

But the party said there was "overwhelmingly evidence" the UKIP membership did not want Mr Farage to go.

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It said: "He has therefore been persuaded to withdraw his resignation and remains leader of UKIP."

UKIP Chairman Steve Crowther said: "As promised Nigel Farage tendered his official resignation as leader of UKIP to the NEC. This offer was unanimously rejected by the NEC members who produced overwhelmingly evidence that the UKIP membership did not want Nigel to go.

"The NEC also concluded that UKIP's general election campaign had been a great success. We have fought a positive campaign with a very good manifesto and despite relentless, negative attacks and an astonishing last minute swing to the Conservatives over fear of the SNP, that in these circumstances, 4 million votes was an extraordinary achievement.

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"On that basis Mr Farage withdrew his resignation and will remain leader of UKIP. In addition the NEC recognised that the referendum campaign has already begun this week and we need our best team to fight that campaign led by Nigel. He has therefore been persuaded by the NEC to withdraw his resignation and remains leader of UKIP."

Speaking exclusively to EU Reporter, Nigel Farage said that he was "deeply moved, frankly overwhelmed, by the support from the party".

EU Reporter will be following developments closely as further information reaches us.

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European Central Bank (ECB)

ECB's Lagarde keeps door open to higher inflation

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Inflation in the eurozone could exceed the European Central Bank's already raised projections but there are few signs of this already happening, ECB President Christine Lagarde (pictured) said on Monday (27 September), writes Balazs Koranyi, Reuters.

"While inflation could prove weaker than foreseen if economic activity were to be affected by a renewed tightening of restrictions, there are some factors that could lead to stronger price pressures than are currently expected," she told lawmakers at the European Parliament.

"But we are seeing limited signs of this risk so far, which means that our baseline scenario continues to foresee inflation remaining below our target over the medium term," she added.

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European Commission

NextGenerationEU: European Commission disburses €231 million in pre-financing to Slovenia

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The European Commission has disbursed €231 million to Slovenia in pre-financing, equivalent to 13% of the country's grant allocation under the Recovery and Resilience Facility (RRF). The pre-financing payment will help to kick-start the implementation of the crucial investment and reform measures outlined in Slovenia's recovery and resilience plan. The Commission will authorise further disbursements based on the implementation of the investments and reforms outlined in Slovenia's recovery and resilience plan.

The country is set to receive €2.5 billion in total, consisting of €1.8bn in grants and €705m in loans, over the lifetime of its plan. Today's disbursement follows the recent successful implementation of the first borrowing operations under NextGenerationEU. By the end of the year, the Commission intends to raise up to a total of €80 billion in long-term funding, to be complemented by short-term EU-Bills, to fund the first planned disbursements to member states under NextGenerationEU.

The RRF is at the heart of NextGenerationEU which will provide €800bn (in current prices) to support investments and reforms across member states. The Slovenian plan is part of the unprecedented EU response to emerge stronger from the COVID-19 crisis, fostering the green and digital transitions and strengthening resilience and cohesion in our societies. A press release is available online.

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Cyprus

NextGenerationEU: European Commission disburses €157 million in pre-financing to Cyprus

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The European Commission has disbursed €157 million to Cyprus in pre-financing, equivalent to 13% of the country's financial allocation under the Recovery and Resilience Facility (RRF). The pre-financing payment will help to kick-start the implementation of the crucial investment and reform measures outlined in Cyprus' recovery and resilience plan. The Commission will authorise further disbursements based on the implementation of the investments and reforms outlined in Cyprus' recovery and resilience plan.

The country is set to receive €1.2 billion in total over the lifetime of its plan, with €1 billion provided in grants and €200m in loans. Today's disbursement follows the recent successful implementation of the first borrowing operations under NextGenerationEU. By the end of the year, the Commission intends to raise up to a total of €80bn in long-term funding, to be complemented by short-term EU-Bills, to fund the first planned disbursements to member states under NextGenerationEU. Part of NextGenerationEU, the RRF will provide €723.8bn (in current prices) to support investments and reforms across member states.

The Cypriot plan is part of the unprecedented EU response to emerge stronger from the COVID-19 crisis, fostering the green and digital transitions and strengthening resilience and cohesion in our societies. A press release is available online.

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