This CEPS Special Report analyses the proposed expansion of innovative financial instruments in the EU Multiannual Financial Framework for the 2014–20 period. It presents the economic rationale, governance principles and criteria that these instruments should follow and compares these with proposals from the European Commission. Based on this assessment, it makes recommendations for the proposed instruments.
The study, which was originally commissioned by the European Parliament's Committee on Budgets, was carried out by a team of researchers from CEPS and the Institute for European Environmental Policy (IEEP). Jorge Núñez Ferrer is Associate Research Fellow at CEPS. Axel Volkery is Senior Fellow and Head of the Environmental Governance Programme, IEEP. Sirini Withana and Keti Medarova-Bergstrom are Senior Policy Analysts, IEEP.