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ARTICLE · 19 JULY 2011

EU Budgetary Perspectives 2014-2020

Elias Neocleous & Co LLC
Elias Neocleous & Co LLC
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Elias Neocleous & Co LLC

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The European Commission has faced the challenge of being able to fund a number of policy areas where the EU could be more effective, by acting at EU level, in preparing its proposals for the future budget of the European Union. In its proposal, based on the Europe 2020 Growth Strategy, a new funding potential can be seen attempting to ease the direct impact of the national budgets with the creation of a new Multiannual Financial Framework (MFF).

European UnionInternational Law
Elias Neocleous & Co LLC
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The European Commission has faced the challenge of being able to fund a number of policy areas where the EU could be more effective, by acting at EU level, in preparing its proposals for the future budget of the European Union. In its proposal, based on the Europe 2020 Growth Strategy, a new funding potential can be seen attempting to ease the direct impact of the national budgets with the creation of a new Multiannual Financial Framework (MFF).

Legal framework of the MFF

The Treaty of Lisbon included the MFF into EU primary law. Article 312 of the Treaty on the functioning of the European Union, stipulates that the MFF shall be established for a period of at least five years. The framework is set down in the form of a regulation to be adopted unanimously by the Council after obtaining the consent of the European Parliament given by a majority of its component members.

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