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.
EU BUDGET
A new framework for funding the future of Europe
Ministers fall short of finalizing eurozone budget plans
The finance ministers in the Eurozone have agreed on introducing a budget tool for the 19-member states during a lot of negotiations and discussions. However, a lot of issues remain unclear.
EU raises heat on Italy over high debt, deficit
The European Commission has formally put Italy on notice about its deteriorating deficit and snowballing debt, re-opening a political battle with populist-led Rome
Merkel urges Greece to implement refugee pact, embrace Macedonia deal
Merkel's two-day visit came four months after Greece emerged from its third and final bailout package.
EU auditors criticize bloc’s efforts to fight budget fraud
The European Court of Auditors has published a report criticizing the European Commission for their handling of the fight against fraud in EU spending.
Key measures in revised Italian government budget
Italian lawmakers have approved a revised 2019 budget after the populist government's initial plan faced stiff opposition from EU officials and a cool reception in financial markets.
European Commission accepts Italy’s revised budget
Italy and the European Commission have announced a new budget deal after weeks of wrangling over the country's 2019 spending plans.