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.
US Treasury Secretary Janet Yellen (L) meets President of the Eurogroup, Paschal Donohoe, during the G7 finance ministers meeting in London on June 5, 2021. Photo: Alberto Pezzali / Pool
US Treasury Secretary Janet Yellen (L) m... […]

Global minimum tax still far from becoming reality

After the accolades, an agreement among the world's wealthiest countries to set a global minimum tax on the biggest companies now faces a long, bumpy road to implementation
Combination of pictures created on January 12, 2021 shows a file photo taken on October 2, 2020 of Italian PM Giuseppe Conte at The European Council Building in Brussels (L) and then former Italian PM, Matteo Renzi, on March 5, 2018 at the PD headquarters in Rome.
Combination of pictures created on Janua... […]

Virus-hit Italy faces political crisis over EU recovery plan

Italy is facing a fresh political crisis after weeks of turmoil in the coalition government came to head in a row over how to spend billions of euros in EU coronavirus recovery funds
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
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