THE NEXT REVISION OF THE FINANCIAL REGULATION AND THE EU BUDGET GALAXY How to safeguard and strengthen budgetary principles and parliamentary oversight?

Over the last two decades, the combined effect of multiple crises and low Multi-Annual Financial Framework (MFF) ceilings has led to the emergence of a ‘galaxy’ of EU funds and instruments with variable participation of Member States and a diverse range of decision-making and accountability procedures. This study analyses the impacts on the EU governance and the ability of the European Parliament to fulfil its duties and considers that reforms are needed to ensure the EU budget and financial rules reflect the realities the EU faces.