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[French Minister: Google 4600000000 EUR Fines Should Offset Member State Contributions]

According to a Reuters report cited by Phoenix News Technology, French Minister for European Affairs Benjamin Haddad said on Tuesday that the EU should use the tens of billions in EUR fines imposed on Google to reduce member states’ contributions to the EU budget. In an interview with French news channel LCI, Haddad said: This is a new source of revenue for the EU, amounting to 4600000000 EUR, and the funds should be used to automatically reduce the contributions of all member states. This year,July, Google was fined a total of 890000000 EUR for violating EU rules aimed at curbing the power of large technology companies, equivalent to approximately 1010000000 USD. The recent fines bring the total fines imposed on Google by the EU over nearly two decades for anticompetitive conduct to 10380000000 EUR. EU member states are negotiating the budget for 2028 to 2034, and the European Commission has proposed a budget of 2000000000000 EUR, equivalent to 1.26%of the EU’s gross national income, of which approximately 168000000000 EUR will be used to repay borrowing raised for the post-pandemic recovery fund.