College meeting: Future of EU finances
Commission opens debate on the future of EU finances, discusses latest State aid and antitrust decisions, trade with Japan, and recent cyber attacks.
Reflection Paper on the Future of EU finances
At a time when the EU is doing more than ever before to protect, empower and defend its citizens, decisions are needed for an EU budget that is fit for purpose and makes every euro work for its citizens. With today's reflection paper on the future of EU finances, the Commission sets out possible ways to make this ambition a reality.
The challenge is to fund more with less given that the EU is expected to play a bigger role in new policy areas like migration, security and defence. Europe should also preserve its leading role on the global stage, as a major humanitarian and development aid donor and as a leader in the fight against climate change. All of that must be achieved with an EU budget that will only get smaller following the departure of the United Kingdom.
The reflection paper maps out various options and their possible budgetary implications, based on the five scenarios presented in the Commission's White Paper on the Future of Europe presented on 1 March. It includes ideas which are already in the public domain and aims to trigger a wide public debate where everyone has a say. Public feedback will inform the Commission's future proposal for the next Multiannual financial framework.
Other issues
The College also had the opportunity to discuss the recent State aid decisions regarding the Italian banks Banca Popolare di Vicenza and Veneto Banca, as well as yesterday's antitrust decision on the Google case. The College further discussed the state of play of ongoing trade negotiations with Japan and the recent cyber security attacks.
Related links
Reflection Paper on the Future of EU finances
Press release - An EU budget fit for tomorrow: Commission opens debate on future of EU finances
Reflection paper the future of EU finances
White Paper on the Future of Europe and all Reflection Papers
"Future financing of the EU", final report of the High Level Group chaired by Mario Monti
Multiannual Financial Framework (2014-2020)
Factsheet: Future of EU finances: Five Scenarios
Factsheet: Future of EU finances: Facts and Figures
Other issues
Speech by Commissioner for Trade Cecilia Malmström during the press conference on the 'Report on Trade and Investment Barriers'
Factsheet: If a bank has a capital shortfall in the Banking Union
Audiovisual material
Read-out of the College meeting
Press conference by Commissioners Corina Creţu and Günther Oettinger on the Reflection paper on future of EU finances