1
Q
Ex. Multi-annual Financial Framework
A
The EUs long term budget
2
Q
How is the MFF formed ?
A
- New MFF proposed by EU commission
2.The Council of EU has to agree, unanimously
3.EP needs to consent
3
Q
NextGenerationEU
A
- Created in Response to Covid-19
- €750 Billion
- Financed by BORROWING
4
Q
European Court of Auditors
A
- Promote Accountability & Transparency
- Independent guardian of EU citizens financial interest
5
Q
Ex. EU Budget Revenue 1
A
- Customs & Other Duties Levied on imports
2.MS Value Added Tax (VAT) contribution - MS Gross National Income (GNI) contributions
6
Q
2 EU budget no gos
A
- EU does NOT tax
- EU is not allowed to borrow money
- NextGenEU fund broke this rule
7
Q
Ex. EU Budget Revenue 2
A
Commission Ambitions 2028-34
8
Q
Ex. Common agricultural policy
A
Regulates agricultural markets & provides financial support to farmers
9
Q
Ex. Cohesion Policy
A
Reduces economic disparities between regions with financial support
10
Q
Ex. Distributive Policies
A
Serves a specific group in society
11
Q
Ex. Regulatory Policies
A
Sets general norms for certain types of activities
12
Q
Ex. Redistributive polices
A
Transfers money from some groups to another
13
Q
Ex. Conditionality
A
The EU commission suspending payments if MS fail to ahear to EU law
