Financing the EU: limits on ambition
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Abstract
The recent passing of the EU’s so–called ‘financial perspectives’, that is, the budgetary framework for the 2007–2013 period, is a good moment to reflect on the situation of the European project today. The thesis we defend in this article is that the financial amounts budgeted in the document approved do not correspond either to the needs of European construction at the present moment, nor to its logic. This editorial article begins by explaining the European budgetary system, from the point of view of both income and expenditure, with special reference to net results by countries. We then go on to explain the process followed in elaborating and approving the multi–annual budgets for the aforesaid programmed period, and underline the tension caused by this polemic budgetary period. We conclude with some reflections on the future of European construction.
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