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.
President of the Eurogroup Mario Centeno speaks during a discussion on "Reforming the Euro Area:" during the 2018 Spring Meetings of the IMF and World Bank Group at IMF Headquarters in Washington, DC, April 19, 2018. Photo: Saul Loeb / AFP
President of the Eurogroup Mario Centeno […]

‘Differences’ persist on eurozone budget ahead of key EU summit

Eurogroup head Mario Centeno warns of differing opinions towards a plan by France and Germany to establish a eurozone budget, ahead of a key EU summit to discuss the matter.
French army 'Leclerc'-type tanks take part in the 'Strong Europe Tank Challenge 2017' exercise at the exercise area in Grafenwoehr, near Eschenbach, southern Germany, on May 11, 2017. Photo: Christof Stache / AFP
French army 'Leclerc'-type tanks take pa […]

EU defence gets 20-billion-euro budget boost

The EU has announced plans to spend nearly 20 billion euros on defence over its next long-term budget, as the bloc seeks to boost its resilience to the perceived threat from Russia
German Chancellor Angela Merkel (R) and French President Emmanuel Macron stand behind a model of the Humboldt Forum in the Berlin Palace before talks in Berlin on April 19, 2018. Photo: Kay Nietfeld / POOL / AFP
German Chancellor Angela Merkel (R) and […]

Germany hits brakes on Macron’s European dreams

French President Emmanuel Macron's vision for a stronger EU may be under threat as a growing rift emerges with Germany on everything from defence to his plans for deeper eurozone integration.