EU BUDGET

A new framework for funding the future of Europe
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.
(L-R) Dutch PM Mark Rutte, European Council President Charles Michel, French President Emmanuel Macron and President of the European Commission Ursula von der Leyen participate in a last roundtable discussion following a four-day European summit at the European Council in Brussels, Belgium, early July 21, 2020. Photo: Stephanie Lecocq / Pool / AFP
(L-R) Dutch PM Mark Rutte, European Coun […]

EU leaders agree to link funds to rule of law

EU leaders have for the first time agreed to link payment of funds to a member state with respect for the bloc's legal norms -- though Poland and Hungary say they blocked tougher planned measures
European Commission President Ursula Von Der Leyen (L) and European Council President Charles Michel bump elbows after a news conference following a four-day European summit at the European Council in Brussels, Belgium, early July 21, 2020. Photo: Stephanie Lecocq / Pool / AFP
European Commission President Ursula Von […]

EU’s virus recovery plan: historic but imperfect

The 750-billion-euro coronavirus recovery deal struck by EU leaders may be a historic landmark, but analysts are already warning it comes with substantial flaws
Spain's PM Pedro Sanchez (L), French President Emmanuel Macron (C) and German Chancellor Angela Merkel (R) read documents during an EU summit in Brussels on July 20, 2020, as EU leaders held their first face-to-face summit over a post-virus economic rescue plan. Photo: John Thys / Pool / AFP
Spain's PM Pedro Sanchez (L), French Pre […]

Five things to know about the EU virus recovery plan

The European Union's 27 member states emerged from an intense four-day and four-night summit brandishing a huge coronavirus recovery plan and a trillion-euro long-term budget
Belgium, Brussels: Ursula von der Leyen (r), President of the European Commission, takes part in a special session on the second day of the EU special summit. Photo: -/EU/XinHua/dpa
Belgium, Brussels: Ursula von der Leyen […]

EU leaders cautiously optimistic deal on virus recovery fund in sight

European Union leaders are currently having major talks for a shared economic stimulus package to recoup the damage caused by the coronavirus pandemic for the fourth day in a row. An agreement seems difficult to reach.
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