EU multiannual financial framework 2021-2027: a lost opportunity?

Research output: Chapter in Book/Report/Conference proceedingChapterpeer-review

Abstract

Each multiannual financial framework (MFF) provides a unique opportunity to discuss if and how to deepen European integration. The importance of the financial/budgetary component of integration is two-fold: first, a monetary union risks being unbalanced without an adequately financed budgetary union. Second, and most importantly, the financial consensus tells a story on how healthy Member States bondage is and to what extent are Europeans willing to integrate further. Thus, this article explores the evolution of the EU MFFs since 1993 and identifies the most common ways of financing of the EU budget as well as their main features. It argues that the EU needs to shift the current national perspective of resource allocation to focus on European outcomes. EU resources should also be embedded in the same spirit, in the sense their supranational ownership should be clearly established in order to adequately fulfill a much needed interstate stabilisation function.
Original languageEnglish
Title of host publicationTemas de integração
EditorsFrancisco do Amaral, Manuel Carlos Lopes Porto
Place of PublicationCoimbra
PublisherEdições Almedina
Number of pages40
Volume38-39
Edition1
ISBN (Electronic)9783800000005
Publication statusPublished - 2020

Keywords

  • European Union
  • EU budget
  • Multiannual financial framework
  • Economic and monetary union
  • Asymmetric shock
  • Stabilisation function
  • Common poll problem

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