01 Apr 2022

The Next Revision of the Financial Regulation and the EU Budget Galaxy

How to safeguard and strengthen budgetary principles and parliamentary oversight

Jorge Núñez Ferrer / Francesco Corti / Iain Begg / Eulalia Rubio / Giacomo Benedetto / Daina Belicka

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Over the last two decades, the combined effect of multiple crises and low Multi-Annual Financial Framework (MFF) ceilings has led to the emergence of a ‘galaxy’ of EU funds and instruments with variable levels of Member State participation and a diverse range of decision-making and accountability procedures. This study, written on request by the Budget Committee of the European Parliament, analyses the impacts on EU governance and the ability of the European Parliament to fulfil its duties, and considers that reforms are definitely needed to ensure that the EU budget and financial rules reflect the current realities that the EU faces.

This study was originally published on the European Parliament Think Tank website.