An EU budget fit for tomorrow: Commission opens debate on future of EU finances

Background information:

On 1 March 2017 the European Commission presented a White Paper on the Future of Europe, which would form the Commission's contribution to the debate and reflection leading up to the Rome Summit of 25 March 2017 marking the 60th anniversary of the signing of the Treaties of Rome.

The White Paper set out the main challenges and opportunities for Europe in the coming decade. It presented five scenarios for how the Union could evolve by 2025 depending on how it chose to respond.

The European Commission said it would further contribute to the debate in the months to come with a series of reflection papers on:

+ developing the social dimension of Europe (April 2017)
+ deepening the Economic and Monetary Union, on the basis of the Five Presidents' Report of June 2015 (May 2017)
+ harnessing globalisation (May 2017)
+ the future of Europe's defence (June 2017)
+ the future of EU finances (June 2017)

Like the White Paper, the reflection papers would offer different ideas, proposals, options or scenarios for Europe in 2025 without presenting definitive decisions at this stage.

On 28 June 2017 the European Commission published a reflection paper on the future of EU finances. The issues raised in this fifth and final paper in a series of reflection papers were central to the debate started on 1 March 2017 with the Commission's White Paper on the Future of Europe.

The reflection paper mapped out possible budgetary implications of the choices that would be made during the negotiations for the multiannual financial framework for an EU of 27, which the European Commission would present in mid-2018.

• Primary Source

EurActiv, 28.06.17: Commission mulls CAP cuts, rebates in effort to shore up post-2020 budget http://www.euractiv.com/section/uk-europe/news/commission-mulls-cap-cuts-rebates-in-effort-to-shore-up-post-2020-budget/

Politico, 28.06.17: Commission looks to sacrifice agriculture to plug Brexit budget hole www.politico.eu/article/commission-looks-to-sacrifice-agriculture-to-plug-brexit-budget-hole/

EUObserver, 28.06.17: EU mulls post-Brexit budget options https://euobserver.com/economic/138377

The Guardian, 29.06.17: Brexit could blow €20bn hole in EU budget, warns European commissioner https://www.theguardian.com/world/2017/jun/29/brexit-blow-20bn-hole-eu-budget-european-commissioner

Radio Poland, 28.06.17: EU suggests limiting budget for disrespect of rule of law http://thenews.pl/1/10/Artykul/313810,EU-suggests-limiting-budget-for-disrespect-of-rule-of-law

European Commission: Publications: Reflection paper on the future of EU finances https://ec.europa.eu/commission/publications/reflection-paper-future-eu-finances_en

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