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.
A Euro currency sculpture, part of a lifesize Game of the Goose set up in the courtyard of the Economy and Finance Ministry in Paris, on September 18, 2016. Photo: Jacques Demarthon / AFP
A Euro currency sculpture, part of a lif […]

Brexit punches 12-bln-euro hole in EU finances

When Britain leaves the EU at midnight on Friday the bloc will lose the second-biggest net contributor to its budget, leaving a 12-billion-euro ($13-billion) hole in its finances
Olaf Scholz (SPD, l), Federal Minister of Finance and Bruno Le Maire (r), French Minister of Economics, will hold a joint press conference after the Eurogroup meeting. At the meeting on Friday night, the finance ministers of the euro countries made progress on the controversial euro zone budget. Photo: Arne Immanuel Bänsch/dpa
Olaf Scholz (SPD, l), Federal Minister o […]

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.
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