The EU multiannual financial framework (MFF) ensures for periods of 7 years each the financing of common programmes in all policy areas in Europe ranging from agriculture to research, from regional policy to foreign aid. With Brexit looming, the EU has to face a funding gap of around 15 billion euros per year for the next budgetary period 2021-2027. At the same time, it has to tackle new challenges such as migration, security and defence, the digital transition and climate change. Many Member States have already rejected both expenditure increase and cuts in agricultural and regional funds, as well as new criteria for the allocation of money linked to rule of law and refugees.
Eurozone finance ministers urge Italy to reverse course on its rule-breaking budget amid fears of market turmoil and a return of the debt crisis.
2 weeks ago
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