EU turns off the fountain of money to Turkey

European Union cut financial aid to Turkey by 105 million Euros. Another 70 million euros will be blocked for now and will only be released if Ankara makes progress on rule of law.

After years of crises and tension EU finally decided to cut the financial aid to Turkey for its provisional budget for 2018. 

The European Parliament and the Member States have agreed on EU’s budget for the year 2018. The provisional budget shows that the financial aid for Turkey will be reduced by EUR 105 million.

In addition to the cuts, another 70 million euros of Turkish aid will be blocked for the time being. According to AFP news agency, the money will not be released until the EU finds improvements in the rule of law.

In October, leader of the EU countries decided to cut financial aid to Turkey and the EU parliament and the EU Commission followed the decision.

The provisional budget will be voted in EU Parliament on November 30.

Turkey wants to become an EU member since 2005. The aid is designed to help candidate countries adapt to EU standards. By 2020 Turkey should have spent a total of around 4.45 billion euros. So far, however, only 286 million euros have been disbursed.

Apart from 3.3 billion euros of financial aid EU countries gave 6.6 billion euros to Turkey for the refuge agreement in the past 3 years.