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For the first time ever, the European Parliament and the Council have agreed to revise the ceilings of the EU's multiannual financial framework. The agreement affects the remaining years of the current financial period: 2024 to 2027. The European Parliament had demanded a revision to enable the EU to rise to its challenges effectively. At the special European Council meeting on 1 February 2024, the EU Heads of State or Government reached a highly anticipated decision on the revision following the ...

The main objective of the special European Council meeting on 1 February 2024 is to finalise EU leaders' position on the revision of the multiannual financial framework (MFF). While the aim is to reach an agreement among all 27 Member States, alternatives could be used based on an agreement of 26 Member States. EU leaders may also use the meeting to raise other topics – notably, the war in Ukraine and the possible use of frozen Russian assets, next steps in the enlargement process, security and defence ...

The 2024 EU budget will be the fourth under the multiannual financial framework (MFF) for 2021 to 2027. The European Parliament contributes to the preparation of proposals for the forthcoming year's European Union budget through the adoption of its 'guidelines'. The draft guidelines, as adopted by the Committee on Budgets on 28 March 2023, outline Parliament's goals for the Union's 2024 budget. Parliament is expected to adopt its guidelines during the April plenary session, ahead of the Commission's ...

The Recovery and Resilience Facility (RRF) is the main element of the EU's innovative financing instrument, Next Generation EU (NGEU), established with the aim to drive the EU's post-pandemic economic recovery towards a resilient future. The RRF is a performance-based instrument from which Member States can receive funds once they have met prior commitments (milestones and targets). The funds help the Member States make the reforms and investments they have envisaged under their dedicated national ...

This briefing analyses C and P transfers in the EP’s budget during 2021. It differentiates between transfers linked directly and indirectly to the EP’s response to the COVID-19 crisis on the one hand and those that dealt with other, unrelated, needs on the other, including the EP’s building policy. A comparison between the main tendencies observed in 2020 and 2021 sheds light on the impact the COVID-19 crisis had on the EP’s budget in both years.

During the September 2022 plenary session, Parliament is expected to debate and vote the report concerning the Commission proposal to recast the Regulation on the statute and funding of European political parties and foundations. The report was adopted by the Committee on Constitutional Affairs (AFCO) on 13 July 2022 – with 18 votes for, 4 against and 2 abstentions – and includes 36 amendments to the original proposal.

The purpose of Draft Amending Budget No 2/2022 (DAB 2/2022) to the EU's 2022 general budget is to enter as revenue in the 2022 budget the surplus resulting from implementation of the 2021 budget. The 2021 surplus totals over €3.2 billion. It consists mostly of higher than expected revenues from customs duties (€1.68 billion) and fines for breaking EU competition law that exceeded the forecast by €957 million. The surplus also arises in part from under-spending on the expenditure side. Inclusion of ...

The Monthly Highlights publication provides an overview, at a glance, of the on-going work of the policy departments, including a selection of the latest and forthcoming publications, and a list of future events.

Collateral constitutes an indispensable lubricant for the financial system. Government bonds constitute the most important source of collateral, for use in inter-bank and repo transactions. But, the vast bond buying program of the ECB in the context of the Public Sector Purchase Programme has not led to any collateral scarcity. Banks still hold very large amounts of sovereign bonds and they have ample other collateral should they want to borrow more from the ECB for ‘standard’ monetary policy operations ...

The European Investment Bank

EU Fact Sheets 01-11-2017

The European Investment Bank (EIB) furthers the objectives of the European Union by providing long-term project funding, guarantees and advice. It supports projects both within and outside the EU. Its shareholders are the Member States of the EU. The EIB is the majority shareholder in the European Investment Fund (EIF) and, together with the latter, makes up the EIB Group. Within the Investment Plan for Europe proposed by the Commission, the EIB Group is part of a broader strategy aimed at overcoming ...