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As we saw earlier, expenditure was rising faster than own resources from customs duties and levies, and therefore the VAT rate had to be progressively increased until, as we noted above, in it reached the per cent ceiling. Quite simply the Community was in danger of running out of own resources. Indeed it did so in. Whilst in respect of their own domestic budgets member state governments have a more or less automatic right to cover any excess of expenditure by borrowing, the Community has no such automatic right.

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In principle the budget must balance. However, what the Community did in was to adopt a wholly ad hoc arrangement whereby member states were asked to make repayable advances in order to cover the budgetary shortfall. The same happened in except that on that occasion the advances were not repayable.

Maddie Briann Aldridge Style Fashion & Looks 2015
Maddie Briann Aldridge Info Chart

Style Name Maddie Briann Aldridge
Style Birth; June 19, 2008
Style From; McComb, Mississippi
Style Relationship; Single.

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