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The European Union allocates its budget to address matters that are considered important to its citizens (Future of EU finances).


EDC News: The Future of EU Finances

With barriers, such as, lack of finances and justifying the purpose of its existence, the EU needed to reassess the way it allocated its budget and establish funding sources. This, consequently, led to a debate on the evolution of EU finances, whereby five reform scenarios were proposed. It seems however, that none of these scenarios conclusively fits the agenda of the EU. Hence, during the EU ambassadors’ conference [9/8/2017], President Jean-Claude Junker stated that an alternative scenario would, probably, be a combination of key elements from the current five scenarios. The formulation of an optimal scenario will need to address fundamental EU finance reform principles as stated in the proposal for a new financial regulation. By establishing the optimal scenario, the EU can then progress with the development of the next Multiannual Financial Framework (MFF) 2021.

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