EU Budget Agreed

bsiFollowing their meeting on Thursday 27th June at the Commission headquarters, President Barroso, President Schulz and Irish Taoiseach Kenny announced a political agreement on the European Union’s future budget 2014-2020.

President Barroso underlined that this was possible because all sides have gone the extra mile and said: “This is a good deal for Europe, for European citizens and for the European economy.”

He pointed to the main elements of the agreement: more flexibility on both payments and commitments, frontloading of expenditure linked to youth employment, research, education and SMEs as well as the possibility to increase aid for the most deprived people. He also said that the deal confirms the agreement reached for the 2013 amending budget.

“This is a good deal for Europe.”

He also pointed out that the Compact for Growth discussed at the European Council that same day cannot exist without a fund for growth and concluded: “Our fund for growth is the European budget”. He thanked the representatives of the other institutions for their true European spirit.

The deal will now be submitted to the European Parliament and the Council for formal endorsement.


You may have an interest in also reading…

Reef of Contention: Spain Talks Tough on Gibraltar

The Spanish government is taking a cue from Argentina: Whenever beset by apparently insurmountable problems and tanking approval ratings, find

Joseph E Stiglitz: Fed Up with the Fed

At the end of every August, central bankers and financiers from around the world meet in Jackson Hole, Wyoming, for

UNCTAD Investment and Enterprise Division: An Investment Perspective on International Taxation

Tax avoidance practices by multinational enterprises (MNEs) often depend on corporate structures that are built by routing investments through offshore