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Multiannual financial framework for the years 2021 to 2027: The future of EU finances

28-06-2019

On 20 June 2019, the European Council examined the progress of work in the Council on the Commission proposal for the long-term design of the post-2020 EU budget. The European Council now aims to reach an agreement among Heads of State or Government before the end of 2019. Elements for consideration in the draft regulation, which is part of a broader package of proposals, include the following features of the new multiannual financial framework (MFF): total resources, structure, priorities, flexibility ...

On 20 June 2019, the European Council examined the progress of work in the Council on the Commission proposal for the long-term design of the post-2020 EU budget. The European Council now aims to reach an agreement among Heads of State or Government before the end of 2019. Elements for consideration in the draft regulation, which is part of a broader package of proposals, include the following features of the new multiannual financial framework (MFF): total resources, structure, priorities, flexibility provisions, and revision clauses. The European Parliament has already detailed its negotiating position in November 2018, with a view to contributing to a smooth transition to the next MFF and its related EU spending programmes as of 2021.

EU cooperation with Greenland

11-04-2019

The overall aim of the European Union-Greenland Partnership Agreement is to boost ties and cooperation between the EU and Greenland, with education and training as one of several key areas of cooperation. As part of the partnership, and taking Greenland's needs into account, the focal point of EU-Greenland financial cooperation is education and training, with a special emphasis on boosting the pre-school and elementary school system, as well as on providing support for vocational education and post-elementary ...

The overall aim of the European Union-Greenland Partnership Agreement is to boost ties and cooperation between the EU and Greenland, with education and training as one of several key areas of cooperation. As part of the partnership, and taking Greenland's needs into account, the focal point of EU-Greenland financial cooperation is education and training, with a special emphasis on boosting the pre-school and elementary school system, as well as on providing support for vocational education and post-elementary education.

How the EU budget is spent: European Fund for Strategic Investments (EFSI)

03-04-2019

Created after the start of the current multiannual financial framework (MFF), the European Fund for Strategic Investments (EFSI) aims to trigger additional investment worth €500 billion in crucial sectors of the EU's economy that suffer from market failures and sub-optimal investment situations. Another major objective is to improve access to finance for European companies, with a special focus on smaller businesses. The functioning of EFSI relies on a strategic partnership with the European Investment ...

Created after the start of the current multiannual financial framework (MFF), the European Fund for Strategic Investments (EFSI) aims to trigger additional investment worth €500 billion in crucial sectors of the EU's economy that suffer from market failures and sub-optimal investment situations. Another major objective is to improve access to finance for European companies, with a special focus on smaller businesses. The functioning of EFSI relies on a strategic partnership with the European Investment Bank Group, which can approve and finance investment operations with a higher-risk profile than its usual portfolio, thanks to the guarantee provided by the EU budget under EFSI. For the post-2020 period, the European Commission has proposed an InvestEU Fund that should build on EFSI's results.

Economic and Budgetary Outlook for the European Union 2019

30-01-2019

This EPRS study, the third in an annual series, provides an overview of the economic and budgetary situation in the EU and beyond. It summarises the main economic indicators in the Union and euro area, and their two-year trends. The figures show that growth was moderate in 2018, at 2.1 %, although this is expected to deteriorate slightly in the coming months, given the poorer global outlook than a year ago. That said, unemployment is at a post-crisis low, and is expected to improve further, given ...

This EPRS study, the third in an annual series, provides an overview of the economic and budgetary situation in the EU and beyond. It summarises the main economic indicators in the Union and euro area, and their two-year trends. The figures show that growth was moderate in 2018, at 2.1 %, although this is expected to deteriorate slightly in the coming months, given the poorer global outlook than a year ago. That said, unemployment is at a post-crisis low, and is expected to improve further, given positive labour market conditions. The study explains the annual EU budget, providing an overview of its headings for 2019, with the total amounting to €165.8 billion (or around 1 % of EU gross national income). The budget focuses on priorities that include stimulating investment, growth and research, the creation of new jobs – especially for young people – and addressing migration and security challenges. The wider budgetary framework – the multiannual financial framework (MFF) – is also analysed in the study, with key decisions on spending for the 2021-2027 period due to be taken during 2019. In this year's edition, the special 'economic focus' offers a bird's eye view of SMEs and SME policy in Europe, and of various recent EU-level initiatives in this field. The EU budget devotes particular attention to SMEs, given their central role in the European economy and in job creation. The EU needs to continue devoting efforts to improving European SMEs' access to finance, since despite recent improvements, they are still too heavily reliant on debt financing which puts them at risk in a downturn.

Own resources of the European Union: Reforming the EU's financing system

09-11-2018

The EU budget is financed by the system of own resources and cannot run a deficit. The current system provides sufficient revenue to cover EU expenditure, but has often been criticised as opaque and unfair. The European Parliament, which has little say in the design of the system, has long pushed for its reform, with a view to shifting the focus of budgetary negotiations from geographically pre-allocated expenditure to the policies with the highest European added value. The European Commission is ...

The EU budget is financed by the system of own resources and cannot run a deficit. The current system provides sufficient revenue to cover EU expenditure, but has often been criticised as opaque and unfair. The European Parliament, which has little say in the design of the system, has long pushed for its reform, with a view to shifting the focus of budgetary negotiations from geographically pre-allocated expenditure to the policies with the highest European added value. The European Commission is proposing to modify the financing of the EU budget as of 2021, when the next multiannual financial framework should start. Proposed changes include: the simplification of existing own resources; the introduction of three new own resources linked to EU policies on climate, environment and the single market; the reduction of the share of revenue provided by the GNI-based resource, which is perceived as national contributions; the abolition of the UK rebate (following that country’s withdrawal from the EU); and the phasing-out of corrections currently granted to other five Member States. A special legislative procedure applies to the principal decision, requiring unanimity in the Council. This is considered a major obstacle to reform of the system, which has remained substantially unchanged for 30 years. First edition. The 'EU Legislation in Progress' briefings are updated at key stages throughout the legislative procedure.

Il quadro finanziario pluriennale 2021-2027: relazione interlocutoria sulle proposte della Commissione

07-11-2018

Nella plenaria di novembre I il Parlamento voterà su una relazione che precisa la sua posizione in merito alle proposte per il quadro finanziario pluriennale (QFP) per il periodo 2021-2027, compresa la ripartizione delle risorse e delle entrate dell'UE. Con l'adozione di una risoluzione, il Parlamento sarà pronto ad avviare i negoziati con il Consiglio.

Nella plenaria di novembre I il Parlamento voterà su una relazione che precisa la sua posizione in merito alle proposte per il quadro finanziario pluriennale (QFP) per il periodo 2021-2027, compresa la ripartizione delle risorse e delle entrate dell'UE. Con l'adozione di una risoluzione, il Parlamento sarà pronto ad avviare i negoziati con il Consiglio.

European Fund for Strategic Investments (EFSI): Management appointments

17-10-2018

The European Fund for Strategic Investments (EFSI) is backed by a guarantee from the EU budget to stimulate investment across the Union. The regulation governing EFSI sets out that the European Parliament, which is one arm of the EU budgetary authority, has to approve the appointments of the managing director and deputy managing director of EFSI. Parliament’s Committees on Budgets and on Economic and Monetary Affairs jointly recommend approving the re-appointment of the current managing director ...

The European Fund for Strategic Investments (EFSI) is backed by a guarantee from the EU budget to stimulate investment across the Union. The regulation governing EFSI sets out that the European Parliament, which is one arm of the EU budgetary authority, has to approve the appointments of the managing director and deputy managing director of EFSI. Parliament’s Committees on Budgets and on Economic and Monetary Affairs jointly recommend approving the re-appointment of the current managing director and deputy managing director. Parliament's consent will be subject to a vote planned for the October II plenary session.

Smart Borders: EU Entry/Exit System

12-01-2018

In anticipation of increased traveller flows and in response to security concerns regarding the control of EU external borders, on 6 April 2016, the Commission presented revised proposals for establishing an Entry/Exit System for recording the border-crossings of all non-EU nationals. These build on the Smart Borders package presented in 2013, which did not secure consensus among the co-legislators and was the subject of additional technical and operational studies completed in 2015. The current ...

In anticipation of increased traveller flows and in response to security concerns regarding the control of EU external borders, on 6 April 2016, the Commission presented revised proposals for establishing an Entry/Exit System for recording the border-crossings of all non-EU nationals. These build on the Smart Borders package presented in 2013, which did not secure consensus among the co-legislators and was the subject of additional technical and operational studies completed in 2015. The current system of manual stamping of passports would be replaced by automation of certain preparatory border control procedures. The system would be interconnected with the Visa Information System (VIS) database and used by the same authorities: border control and consular posts. Moreover, it would allow law enforcement authorities to perform restricted queries in the database for criminal identification and intelligence to prevent serious crime and terrorism. The two regulations were signed on 30 November 2017, and the Entry/Exit System is due to become fully functional by 2020 at the latest.

Economic and Budgetary Outlook for the European Union 2018

11-01-2018

This study provides an overview of the economic and budgetary outlook for the European Union (EU) in 2018 and beyond. It summarises the main economic indicators in the EU and euro area, and their two-year trends. Economic projections point to robust growth, easing in the future, and falling unemployment. Risks are broadly balanced, but both internal and external challenges persist and may weaken economic recovery. A special 'economic focus' aims to provide a bird's eye view of industry and industrial ...

This study provides an overview of the economic and budgetary outlook for the European Union (EU) in 2018 and beyond. It summarises the main economic indicators in the EU and euro area, and their two-year trends. Economic projections point to robust growth, easing in the future, and falling unemployment. Risks are broadly balanced, but both internal and external challenges persist and may weaken economic recovery. A special 'economic focus' aims to provide a bird's eye view of industry and industrial policy in Europe, and provides an overview of various recent EU-level initiatives. Industry, which is particularly important for generating growth and which provides one in five jobs in the EU, is on a positive path with growing value added, output and employment. The study also explains the annual EU Budget, provides an overview of its main headings for 2018, and sets out the wider budgetary framework – the Multiannual Financial Framework (MFF) – currently covering the years 2014 to 2020. Amounting to €160.1 billion, the 2018 EU Budget focuses on priorities such as promoting sustainable growth, creating employment, especially for young people, and addressing migration and security challenges. While representing only some 1 % of the area's gross national income, the EU Budget has features that increase its overall impact, including the significant share of resources devoted to investment. The debate on the future of the EU Budget, which gained momentum in 2017, should lead to proposals for a post-2020 MFF and reform of the EU´s financing system, which the European Commission is expected to table in May 2018.

The future of EU finances

08-09-2017

The European Commission has completed its series of reflection papers on the future of the EU, with a document that analyses how the EU budget could evolve in the coming years to address current and new challenges. The paper should help shape the proposals, due in the coming months, for the next Multiannual Financial Framework of the EU, for the period from 2021 on.

The European Commission has completed its series of reflection papers on the future of the EU, with a document that analyses how the EU budget could evolve in the coming years to address current and new challenges. The paper should help shape the proposals, due in the coming months, for the next Multiannual Financial Framework of the EU, for the period from 2021 on.

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