THE EU MAKES A MOVE TO END OVERPRODUCTION

The EU is planning to reduce the amount of funding it gives to winemakers in order to help end wine overproduction. EU officials are asking that subsidies be divided between member states and not taken from a central pool, with the amount depending on previous levels of production. While traditional wine-producing countries like Italy and France will receive more funding over countries like Greece or Portugal, the new order will hopefully prevent countries from asking for further subsidies that feed overproduction. This will cause many countries to stop mass production and even abandon vineyards, ultimately driving up overall wine prices for countries in the EU.