Dokumenti - Think Tank - Parlament Ewropew

Briefing - The role of the European Council in negotiations on the multiannual financial framework: Frequently asked questions - 19-03-2025

Tue, 18 Mar 2025 23:00:00 GMT

EU Heads of State or Government will hold their first discussion on the post-2027 multiannual financial framework (MFF) at the European Council meeting on 20-21 March 2025. Since 1988, when an interinstitutional agreement introduced the first binding MFF, the European Council has played a central role in the process leading to its adoption. In 1992, the Lisbon Treaty established a new procedure whereby the MFF would come into being through the adoption of a regulation. The European Council was not assigned a formal legal role in this procedure. Due to national contributions to the EU budget and the allocation of funding being highly sensitive issues, MFF negotiations have largely been considered as Chefsache, with a strong de facto involvement of the European Council, especially during the past two rounds. This briefing, presented in the form of answers to frequently asked questions, outlines the trends that can be identified regarding the European Council's involvement in decision-making on the EU's long-term budget.

Sors : © Unjoni Ewropea, 2025 - PE

Studju - Mapping the current structure and discovering the potential of ‘other revenue’ - 10-03-2025

Sun, 09 Mar 2025 23:00:00 GMT

This research study provides an overview of other revenue and its current and potential future relevance in the EU revenue system. After setting out the conceptual foundations and important definitions related to other revenue, the study maps the different categories of other revenue and presents their development over time. Finally, the study discusses several options to strengthen the role of other revenue, considering both existing and potential new other revenue sources. This study was provided at the request of the BUDG Committee.

Sors : © Unjoni Ewropea, 2025 - PE

Mad-Daqqa t’Għajn - Performance and mainstreaming framework for the EU budget - 04-02-2025

Mon, 03 Feb 2025 23:00:00 GMT

The original full study examines performance-based budgeting (PB) and mainstreaming, two relatively novel approaches to the governance of public expenditure which have become increasingly used in EU spending programmes. The two approaches have certain common features but differ in focus. To inform debate around the next multi-annual financial framework (MFF), this study assesses how the two have functioned in practice, seeking to identify shortcomings and recommend possible remedies.

Sors : © Unjoni Ewropea, 2025 - PE

Analiżi fil-Fond - Debt Sustainability Analysis Methodology in the EU's New Economic Governance Framework: An assessment - 08-01-2025

Wed, 08 Jan 2025 23:00:00 GMT

This paper discusses issues with using a DSA framework as a fiscal rule anchor. It introduces key concepts to guide the reader's understanding and highlights concerns about numerous assumptions that are inevitable in DSA calculation. The paper highlights structural issues, including asymmetry in how megatrends of aging, environmental change and a changing security and defence needs are incorporated into the framework.

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Analiżi fil-Fond - Assessing the Debt Sustainability Analysis Methodology in the EU’s New Economic Governance Framework - 26-11-2024

Tue, 26 Nov 2024 23:00:00 GMT

This paper argues that the debt sustainability methodology in the EU new economic governance framework, while analytically sound, faces major implementation challenges. Primary among these is the reliance on a non-observable variable (the volatility of future debt-to-GDP ratios) that must be estimated based on ad hoc procedures that may affect significantly the required decline in the debt ratio after the end of the adjustment period and, hence, the primary surplus that a Member State needs to achieve during the adjustment period.

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Briefing - The implementation of country-specific recommendations under the European Semester cycles - 12-11-2024

Mon, 11 Nov 2024 23:00:00 GMT

This note provides an overview of the European Commission’s assessment of the implementation of the country-specific recommendations issued annually to EU Member States under the European Semester for economic policy coordination. It presents how their implementation has been assessed over time (during 2011-2023 European Semester cycles), both from an annual and a multiannual perspective. The note is updated on a regular basis.

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Briefing - Confirmation hearings of the Commissioners-designate: Piotr Serafin – Budget, Anti-Fraud and Public Administration - 15-10-2024

Mon, 14 Oct 2024 22:00:00 GMT

Piotr Serafin is currently acting Permanent Representative of Poland to the EU. From 2020 to 2023, he was Director of Transport, Telecommunications and Energy in the General Secretariat of the Council of the European Union. From 2014 to 2019, Serafin served as Head of Cabinet for the European Council President, Donald Tusk. From 2012 to 2014, Serafin held the position of secretary of state for European affairs at the Polish Ministry of Foreign Affairs. Previously, from 2010 to 2012, he served as Deputy Head of Cabinet for the EU Commissioner for Financial Programming and Budget. From 1999 to 2009, Serafin worked at the Polish Office of the Committee for European Integration, first as a specialist in EU budget and institutional issues, supporting the chief negotiators for Poland's accession to the EU, and then as coordinator and participant in the negotiations on the EU's 2007-2013 multiannual financial framework. Later, he became under-secretary of state and national aid coordinator for the PHARE and Transition Facility programmes. Born in 1974 in Sulęcin, Poland, Serafin has a degree in economics from the Warsaw School of Economics and a degree in law from the University of Warsaw.

Sors : © Unjoni Ewropea, 2024 - PE

Briefing - The role for the Advisory European Fiscal Board - 19-09-2024

Wed, 18 Sep 2024 22:00:00 GMT

This note provides an overview of the main features and recent developments regarding the advisory European Fiscal Board. It also includes some reflections on a stronger role of the EU level fiscal board in the light of the revised EU economic governance framework.

Sors : © Unjoni Ewropea, 2024 - PE

Analiżi fil-Fond - One Money, One Financial Market- The Capital Markets Union - 18-09-2024

Tue, 17 Sep 2024 22:00:00 GMT

Bringing all European financial markets under one roof, the Capital Markets Union (CMU), stands to provide European savers and borrowers with better opportunities. This, in turn, is expected to boost long-term growth and to improve the functioning of the Economic and Monetary Union (EMU). Yet, powerful private and public interest groups have been able so far to stand in the way of this transformation. Most governments are torn between the benefits from CMU and the pressure of these interest groups. This document was provided by the Economic Governance and EMU Scrutiny Unit at the request of the Committee on Economic and Monetary Affairs (ECON) ahead of the Monetary Dialogue with the ECB President on 30 September 2024.

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Analiżi fil-Fond - Recovery and Resilience Dialogue with the European Commission 16 September 2024 - 12-09-2024

Wed, 11 Sep 2024 22:00:00 GMT

Executive Vice-President Dombrovskis and Commissioner Gentiloni are invited to the 16th Recovery and Resilience Dialogue (RRD) under the Recovery and Resilience Facility (RRF) Regulation, scheduled for 16 September 2024. The previous RRD took place on 22 April 2024.

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Briefing - Debt-equity bias reduction allowance (DEBRA) - 18-07-2024

Thu, 18 Jul 2024 12:11:09 GMT

In most countries in the European Union (EU) and in the rest of the world, debt is treated more favourably from a tax perspective than equity, with interest payments on loans generally being tax deductible. In contrast, costs relating to equity financing, such as dividends, are mostly non-tax deductible. This unequal treatment of debt and equity leads to a bias towards debt in businesses' investment decisions and can lead to high levels of indebtedness in the EU corporate sector. On 11 May 2022, to support the creation of a harmonised tax environment that places debt and equity financing on an equal footing in the EU, the European Commission tabled a proposal for a debt–equity bias reduction allowance (DEBRA). The directive introduces both a tax allowance on increases in company equity and a limitation of the tax deductibility of interest payments. To enter into force, the proposal requires the Council's unanimous support, following consultation of the European �Ϸ��վ and the European Economic and Social Committee. In December 2022, the Council stated that negotiations would be temporarily 'suspended' and reassessed at a later stage in the broader context of other upcoming reforms in the area of corporate taxation. �Ϸ��վ adopted its (non-binding) resolution during its January 2024 plenary session. In the Council, negotiations are on-going. Fourth edition. The 'EU Legislation in Progress' briefings are updated at key stages throughout the legislative procedure.

Sors : © Unjoni Ewropea, 2024 - PE

Briefing - Public finance in Euro area Member States: Selected indicators July 2024 - 03-07-2024

Wed, 03 Jul 2024 22:00:00 GMT

This briefing presents selected indicators on public finance in the euro area Member States and the euro area as a whole.

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Studju - L-Istorja tal-Baġit tal-UE - 01-05-2024

Sun, 07 Jul 2024 22:00:00 GMT

Il-baġit tal-Unjoni Ewropea għandu erba’ pilastri: in-nefqa tiegħu, il-finanzjament tiegħu, ir-rabta tiegħu ma’ fondi barra mill-baġit u l-awditjar tiegħu. Dan id-dokument iħares lejn l-oriġini tal-baġit, l-iżvilupp tiegħu permezz ta’ ppjanar pluriennali u bbaġitjar annwali. Huwa jagħmel dan fost is-setgħat li qed jinbidlu tal-Parlament Ewropew fuq il-baġit u l-evoluzzjoni tal-finanzjament tiegħu u tal-proċess tal-awditjar. Sa mill-ewwel Komunità Ewropea fl-1952, kien hemm tensjoni fuq l-ibbaġitjar fost l-istituzzjonijiet Ewropej u l-Istati Membri u rabta mill-qrib bejn ir-riformi għan-nefqa u dawk għall-finanzjament. Matul l-aħħar 10 snin, l-iżvilupp ta’ galassja ta’ fondi u strumenti ġodda, kemm separati mill-baġit kif ukoll relatati miegħu, żiedu mal-kumplessità tal-arranġamenti finanzjarji tal-Unjoni Ewropea.

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Mad-Daqqa t’Għajn - New economic governance framework - 16-04-2024

Tue, 16 Apr 2024 14:17:25 GMT

On 10 February 2024, the Council and �Ϸ��վ reached a provisional agreement on a new economic governance framework for the EU, seeking to balance national debt sustainability with sustainable and inclusive growth in all Member States. �Ϸ��վ is due to vote on the final texts during the April II 2024 session.

Sors : © Unjoni Ewropea, 2024 - PE

Briefing - EU-Western Balkans relations: Macroeconomic situation and EU financial support - 08-04-2024

Sun, 07 Apr 2024 22:00:00 GMT

In 2003, at the Thessaloniki Summit, the European Council set out its determination to fully support the EU perspective of the Western Balkan countries. However, in the context of relatively limited progress in implementing reforms needed to align with the EU, none have joined since Croatia's accession in 2013, since when the region has been confronted by 'enlargement fatigue' and increasing Russian and Chinese interference. Responding to these challenges, European Commission President Ursula von der Leyen, who took office in November 2019, defined a new EU external policy strategy as a tool that 'stabilises its neighbourhood and accelerates enlargement'. Several political initiatives followed, to accelerate the Western Balkans' EU integration. These have included the reformed enlargement policy, endorsed in February 2020, adopting the third Instrument for Pre-accession Assistance (IPA III) programme, for 2021-2027, with an allocation of over €14 billion, and the latest proposal of the Reform and Growth Facility (the Facility) (€6 billion) under the new Growth Plan for the Western Balkans. Together, IPA III funds and the Facility will constitute the main financing instruments for the region, helping to increase socio-economic convergence with the EU. President von der Leyen said that the Facility 'could double the economy of the Western Balkans in the next 10 years'. The Facility is a tangible result of the new 'gradual integration approach' endorsed by the European Council in June 2022. It aims to provide benefits of EU membership, even before accession to the EU, particularly through participation in the 'four freedoms' of goods, capital, services and people. The proposal for the Facility of 8 November 2023 links fulfilment of reform commitments with access to funding, incentivising reforms while allowing the Western Balkans to benefit from key areas of the single market. The Facility is set to complement the IPA III thematic allocation approach, by focusing on the specific determinants of social and economic growth. �Ϸ��վ supports the enlargement policy as a strategic investment for peace and security. It has endorsed recent enlargement policy reforms, including a gradual approach. �Ϸ��վ is scheduled to hold a debate and vote on the legislative resolution on the Facility for the Western Balkans during its second April 2024 plenary session.

Sors : © Unjoni Ewropea, 2024 - PE

Briefing - New economic governance rules - 07-02-2024

Tue, 06 Feb 2024 23:00:00 GMT

On 26 April 2023, the European Commission published a package of three proposals to revise the EU's economic governance framework: a regulation to replace the current preventive arm of the stability and growth pact (SGP), an amending Council regulation on the corrective arm of the SGP, and an amending Council directive to strengthen the role of independent fiscal institutions. The main proposal on the preventive arm is to be adopted through the ordinary legislative procedure with the European �Ϸ��վ and the Council as co-legislators. The reform proposals would see the Commission bilaterally negotiating a fiscal-structural plan with Member States, with a minimum 4-year horizon; possible extension of the fiscal adjustment path to seven years would provide an incentive to include investment and reform commitments. Greater political buy-in and better Member State ownership of the medium-term plan is also envisaged. Both reference values – the 3 % deficit-to-GDP and 60 % debt-to-GDP ratios – would remain unchanged, the proposal introduces three additional safeguards: two numerical requirements over the agreed plan's horizon and a minimum fiscal adjustment of 0.5 % of GDP per annum if a country is expected to be above the 3 % deficit ratio threshold in an excessive deficit procedure. Both the European �Ϸ��վ and the Council have adopted their mandates on the preventive arm of the SGP, paving the way to interinstitutional negotiations, which started in January 2024. These might revolve around three main topics: safeguards, the role of independent fiscal institutions, and transitory provisions. Third edition. The 'EU Legislation in Progress' briefings are updated at key stages throughout the legislative procedure.

Sors : © Unjoni Ewropea, 2024 - PE

Mad-Daqqa t’Għajn - EU tax achievements: Looking back (and forward) - 07-02-2024

Tue, 06 Feb 2024 23:00:00 GMT

EU Member States' public finances have been under considerable strain owing to both the COVID-19 pandemic and the twin energy-cost-of-living crisis. To bolster EU economies in the wake of these challenging times, various initiatives were taken forward at EU level to simplify tax compliance for businesses operating across borders, and to ensure that taxpayers were paying their fair share. As the current Commission's mandate approaches its conclusion, this briefing looks at some notable achievements and anticipates potential future action in the field of taxation.

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Studju - Special reports by the European Court of Auditors: A rolling checklist of recent findings - 06-02-2024

Mon, 05 Feb 2024 23:00:00 GMT

This publication seeks to assist the Members of the European �Ϸ��վ Committee on Budgetary Control (CONT) in their work relating to the 2022 discharge procedure, scrutinising how the general budget of the European Union is spent. It is based on a sample of 13 special reports by the European Court of Auditors (ECA), which were presented during CONT committee meetings in the 12 months from December 2022 to November 2023, and for which the committee secretariat prepared working documents. The analysis provides a general overview of the ECA's mandate and the emerging role of performance auditing. The main body of the study comprises a selection of tables covering each ECA special report. The tables gather published information to provide a concise and useful summary.

Sors : © Unjoni Ewropea, 2024 - PE

Studju - The impacts of recent inflation developments on the EU finances - 29-11-2023

Tue, 05 Dec 2023 23:00:00 GMT

The focus of this study is the effect of inflation on the ongoing implementation of the current MFF on an aggregate level. The relevant inflation impacts and the channels via which they take effect are presented and analysed for the MFF and the EU revenue system. The study then maps and discusses policy options to mitigate these effects regarding the ongoing MFF and NGEU implementation, as well as with a view to the ongoing MFF mid-term revision.

Sors : © Unjoni Ewropea, 2023 - PE

Mad-Daqqa t’Għajn - Study in Focus: Options for a stronger and more agile EU budget - 16-10-2023

Thu, 19 Oct 2023 22:00:00 GMT

The full study presents recommendations, drawing on several scenarios, for how the EU budget could be recast to enable it to be more agile and responsive in dealing with new and future challenges requiring EU-level expenditure or lending.

Sors : © Unjoni Ewropea, 2023 - PE

Briefing - Argentina's debt restructuring and economy ahead of the 2023 elections - 26-09-2023

Mon, 25 Sep 2023 22:00:00 GMT

Sovereign debt has been a longstanding challenge for Argentina's governments. As recently as 2022, Argentinian President Alberto Fernandez secured an outline deal with the IMF to restructure US$44.5 billion of debt from a record 2018 bailout. In fact, since 2001, Argentina has defaulted on its international sovereign debt three times –the first time in December 2001 in the midst of a very serious financial crisis, in 2014, in the middle of a battle against holdout creditors and again in 2020, in the middle of the COVID-19 pandemic. During the same period, Argentina has gone through two debt restructurings. One that lasted from 2005 to 2016, and one that started in 2020 and was agreed much faster. After the 2005-2016 restructuring experience, Argentina implemented two of the lessons learned: (i) the use of collective action clauses in the 2005 and 2016 indenture bonds, and (ii) taking a faster approach to the restructuring process, in both the opening of negotiations with creditors and the formulation of an acceptable proposal. In addition, during the 2020 restructuring, Argentina chose initially to adopt two controversial measures to circumvent collective action clauses, it changed course and managed to complete the restructuring of the desired amount. These actions, along with other economic policy decisions, allowed the country to avoid a crisis similar to that of 2001, despite the challenging global economic environment. In 2022, the country's economy went through multiple shocks, i.e. the ramifications of the Russian invasion of Ukraine, as well as a persistent drought that damaged its crops and exports. The situation persisted in 2023, with an increase in inflation and a depletion of dollar reserves, which added to the government's woes. Even if a crisis is averted, economic considerations will play a critical role in the general elections due to take place in October 2023. While it is too early to say that Argentina will not again find itself in need of restructuring in the near future, experts suggest that the country has learned some lessons from these processes, with regard both to negotiating with creditors and to managing its debt and the legal innovations that can protect it. This could help it manage such processes more efficiently and without the associated economic and social costs.

Sors : © Unjoni Ewropea, 2023 - PE

Analiżi fil-Fond - Big central banks and big public debts - 15-09-2023

Sun, 17 Sep 2023 22:00:00 GMT

Like most advanced economies, the euro area emerges from a series of historical shocks with larger public debts, a sizeable increase in the already large balance sheets of the Eurosystem central banks, and intensified links between fiscal and monetary policies. The governments and the ECB must now undo what they did. Corrective action must not wait, if only because other shocks may again unexpectedly occur. The paper also presents a procedure to cut public debts. This document was provided by the Economic Governance and EMU Scrutiny Unit at the request of the Committee on Economic and Monetary Affairs (ECON) ahead of the Monetary Dialogue with the ECB President on 25 September 2023.

Sors : © Unjoni Ewropea, 2023 - PE

Studju - Remaining regulatory challenges in digital finance and crypto-assets after MiCA - 30-04-2023

Tue, 30 May 2023 22:00:00 GMT

This study analyses the need to adopt further EU financial regulation on decentralized finance after the implementation of the Markets in Crypto Asset Regulation and the revision of the Transfer of Funds Regulation, with a special view on crypto lending, crypto staking, crypto custody, the use of non-formal information, NFTs and sustainability. This document was provided by the Policy Department for Economic, Scientific and Quality of Life Policies at the request of the Committee on Economic and Monetary Affairs (ECON).

Sors : © Unjoni Ewropea, 2023 - PE

Briefing - Four challenges of the energy crisis for the EU's strategic autonomy - 20-04-2023

Thu, 20 Apr 2023 08:20:25 GMT

That the EU imports almost 60 % of its energy shows that real EU strategic autonomy in energy is far from achieved. The current energy crisis poses a risk to all four EU energy policy objectives. Crisis in the energy market is causing public and private debt and inflation, which risks destabilizing the European energy market. While diversifying gas imports away from Russia reduces dependency on one big supplier, reliance on several other third countries implies new supply risks. Although high fossil fuel prices may accelerate the transition towards renewable energy, short-term investment in alternative fossil fuels and energy price caps risk diluting incentives for the green transition. Finally, improved cross-border energy network connectivity is susceptible to the yet untested risk of a lack of solidarity between Member States in the event of a structural supply crisis. Now that energy policy is increasingly determined by geopolitics, mitigating these risks is essential. So far, the EU has managed these four challenges quite well, although concerns remain. Diversification of supply, filling gas storage and a relatively mild winter have limited the impact of the energy crisis. Initially, most responses to the crisis came from national governments, safeguarding their national strategic autonomy in energy matters. Member States took the lead with short-term measures to diversify supply and mitigate the effect of rising prices, mostly according to national energy priorities. The EU has also reacted swiftly, with a range of strategies and practical measures designed to increase coherence and EU strategic autonomy. The measures focus both on the internal autonomy of a functioning and well connected internal market and on the external autonomy of supply security in a global market. One of the biggest challenges will be to enhance strategic autonomy for renewable energy, for instance by producing renewables in the EU, while managing dependence on imports of the necessary raw materials.

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Mad-Daqqa t’Għajn - Plenary round-up – March I 2023 - 17-03-2023

Thu, 16 Mar 2023 23:00:00 GMT

Among the highlights of the March I plenary session was a debate on the conclusions of the special European Council meeting of 9 February and the preparation of the European Council meeting of 23-24 March 2023, with Charles Michel, the President of the European Council. Members also debated the failure of the Silicon Valley Bank and its implications for European financial stability, a common EU response to save lives at sea, the need to ensure transparency and accountability in the light of alleged conflicts of interest, combatting organised crime in the EU, human rights defenders working in the field of sexual and reproductive health rights, cross-border adoption from third countries, the Bridgetown Agenda on development finance, long-term commitment to animal welfare, and strengthening EU defence in the context of the war in Ukraine. Members also debated statements by the High Representative of the Union for Foreign Affairs and Security Policy/Vice-President of the European Commission, Josep Borrell, on the deterioration of democracy in Israel and the consequences on the occupied territories, on the situation in Georgia, and on the challenges facing Moldova. During a ceremony celebrating International Women's Day, in addition to statements by the Presidents of the �Ϸ��վ, Roberta Metsola, and of the European Commission, Ursula von der Leyen, Samantha Cristoforetti, an astronaut from the European Space Agency and former commander of the International Space Station, and Shirin Ebadi, Iranian activist and 2003 Nobel Peace Prize winner, gave speeches. Finally, Members heard and debated a 'This is Europe' address by Gitanas Nausèda, President of Lithuania.

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