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.
ILlUSTRATION - Eine Euro-Münze. Die Euro-Finanzminister haben ihre Gespräche zum umstrittenen Eurozonenbudget vorerst abgeschlossen. Es gebe Fortschritte, hieß es in der Nacht zum Donnerstag (10.10.2019) aus Verhandlungskreisen in Luxemburg.
ILlUSTRATION - Eine Euro-Münze. Die Eur […]

Hungary, Poland veto EU budget decision

The two countries have blocked approval of the EU's long-term budget. The spending plans also include a €750-billion coronavirus rescue package.
A shopper wearing a protective mask buys fruits in a Paris' district market on May 12, 2020, after France eased lockdown measures taken to curb the spread of the COVID-19 pandemic, caused by the novel coronavirus. (Photo by FRANCK FIFE / AFP)
A shopper wearing a protective mask buys […]

Eurozone GDP up 12.7% in Q3, biggest quarterly rise

Eurozone output soared by 12.7 percent in the third quarter as the bloc bounced back from the depths of the coronavirus lockdown, according to the Eurostat statistics agency
Thousands of Spanish flags, representing the Spanish victims of COVID-19, are pictured on Patacona beach in Valencia, on October 4, 2020. - Spain has so far claimed more than 32,000 lives and 790,000 infected in the highest infection rate in the European Union. (Photo by Jose Jordan / AFP)
Thousands of Spanish flags, representing […]

Spain hopes to create 800,000 jobs with economic rescue plan

Spain's government has unveiled an EU-funded recovery plan aimed at creating over 800,000 new jobs and yanking the country out of its worst economic slump in decades
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