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

12-02-2021

On 14 December 2020, the Council adopted the decision that reforms the financing system of the EU budget, in the context of a package including the new multiannual financial framework (MFF) and the Next Generation EU (NGEU) recovery instrument. The agreed increase in the maximum level of resources that can be called from Member States is a pre-condition for NGEU borrowing operations. Ratification by all Member States is now required before the decision can enter into force, with retroactive application ...

On 14 December 2020, the Council adopted the decision that reforms the financing system of the EU budget, in the context of a package including the new multiannual financial framework (MFF) and the Next Generation EU (NGEU) recovery instrument. The agreed increase in the maximum level of resources that can be called from Member States is a pre-condition for NGEU borrowing operations. Ratification by all Member States is now required before the decision can enter into force, with retroactive application from 1 January 2021. Six Member States have ratified the decision as of 12 February 2021. Parliament fast-tracked its legislative opinion, adopted in September 2020, to enable the Council to ensure the timely launch of NGEU. In the broader negotiations on EU finances, Parliament pushed for a proper reform of the financing system underlining that the introduction of a basket of new own resources should cover at least the repayment costs of NGEU (for both principal and interest). Deeming the new plastics contribution a first partial step in this direction, Parliament managed to include a detailed roadmap for the introduction of various additional new own resources by 2026 in the interinstitutional agreement on budgetary matters with the Council and the European Commission. Envisaged resources are linked to EU policies on climate and the single market. Third edition. The 'EU Legislation in Progress' briefings are updated at key stages throughout the legislative procedure.

International Agreements in Progress: EU-Vietnam Free Trade Agreement

14-02-2018

The free trade agreement (FTA) with Vietnam has been described as the most ambitious deal of its type ever concluded between the EU and a developing country. Not only will it eliminate over 99 % of customs duties on goods, it will also open up Vietnamese services markets to EU companies and strengthen protection of EU investments in the country. According to European Commission figures, the FTA could boost Vietnam's booming economy by as much as 15 % of GDP, with Vietnamese exports to Europe growing ...

The free trade agreement (FTA) with Vietnam has been described as the most ambitious deal of its type ever concluded between the EU and a developing country. Not only will it eliminate over 99 % of customs duties on goods, it will also open up Vietnamese services markets to EU companies and strengthen protection of EU investments in the country. According to European Commission figures, the FTA could boost Vietnam's booming economy by as much as 15 % of GDP, with Vietnamese exports to Europe growing by over one third. For the EU, the agreement is an important stepping stone to a wider EU-south-east Asia trade deal. Despite the obvious economic benefits of the FTA for Vietnam, some of its more vulnerable manufacturing sectors may suffer from competition with the EU. NGOs have also criticised the EU for pursuing closer ties with a politically repressive regime known for its human rights abuses, although the deal includes some safeguards against negative outcomes. Although the content of the FTA was already agreed in 2015, ratification has been delayed by a 2017 opinion of the European Court of Justice. The Court argued that some aspects of the EU-Singapore FTA, which is similar to the Vietnam FTA, are 'mixed competences', meaning that the FTA as it stands will have to be ratified not only by the EU but also by the 28 Member States. The Commission and Council are now considering whether to modify the agreement so that parts of it can be ratified more speedily by the EU alone. Second edition. The ‘International Agreements in Progress’ briefings are updated at key stages throughout the process, from initial discussions through to ratification.

Administrative Performance Differences between Member States Recovering Traditional Own Resources of the European Union

15-02-2013

The European Commission oversees the recovery by Member States of Traditional Own Resources (TOR), that is customs debt and sugar levies, for the European Union’s budget revenue. It fulfils high standards of control each year. According to the Commission 98 per cent of customs debt identified by Member States is entered in national accounts and transferred as TOR to the EU accounts without particular problems. Yet significant differences of performance exist between Member States. The report examines ...

The European Commission oversees the recovery by Member States of Traditional Own Resources (TOR), that is customs debt and sugar levies, for the European Union’s budget revenue. It fulfils high standards of control each year. According to the Commission 98 per cent of customs debt identified by Member States is entered in national accounts and transferred as TOR to the EU accounts without particular problems. Yet significant differences of performance exist between Member States. The report examines these differences, using published and accessible data to estimate the effects of such differences for the EU budget. It makes recommendations on how to improve even further the collection of this revenue and better safeguard all Member States share in TOR recovery.

Extern avdelning

James SPENCE (Institut d’Etudes politiques - Sciences Po, Paris, France), and Hans DAVIDS (EurBalance, The Netherlands)

Protectionism in Argentina : Old Habits Die Hard

12-06-2012

Kommande evenemang

25-02-2021
Hearing on Long distance transports inside EU
Utfrågning -
ANIT
25-02-2021
The EU-Mercosur Trade Agreement
Utfrågning -
INTA
25-02-2021
Joint Public Hearing ‘Plastics and waste management in the circular economy’
Utfrågning -
PETI ENVI

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