Reflection paper on the future of EU finances
- would argue that Europeans need more (and better) Europe, in order to overcome the political crisis in the EU. There is a growing gap between the concerns and expectations of Europeans, and the limited powers and financial resources currently allocated to the EU;
- endorses the approach whereby the basic principle of the EU budget must be to deliver European added value, achieving better outcomes than would be possible for uncoordinated national budgets acting individually;
- finds that the EU must first identify political priorities with high European added value and only then determine the resources needed to achieve them;
- considers that it is not credible for the EU budget to continue to be less than 1% of EU-GNI;
- is of the opinion that the reform of the EU budget must of necessity aim to improve it, overhauling its structure as regards areas of expenditure and own resources, taking account of suitable rationalisation, efficiency and effectiveness criteria and maintaining direct, transparent channels of communication with the public;
- considers the following to be programmes with a high level of European added value: medium- to long-term investments in economic, social and environmental development, employment, innovation and competitiveness; protecting the most disadvantaged regions and most vulnerable social groups; and responding flexibly and promptly to asymmetric shocks and unexpected crises, including by means of an independent budget for the Eurozone;
- considers that the macroeconomic stabilisation function in the eurozone is particularly important;
- finds that as regards revenue a new budget must be achieved which consists predominantly of autonomous, transparent and fair own resources, in line with the recommendations of the High-Level Group on Own Resources;
- considers that while the impact of Brexit on the post-2020 multiannual financial framework (MFF) may be a threat for the European venture, it can also be an important opportunity.
- Reflection paper on the future of EU finances
- Future of EU finances: five scenarios – implications
- Future of EU finances: facts and figures
Available in all EU languages via this website.
Future financing of the EU - Final report of the High Level Group chaired by Mario Monti