Fittex
The role of the European Council in negotiations on the multiannual financial framework: Frequently asked questions
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 ...
Mapping the current structure and discovering the potential of ‘other revenue’
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 ...
Performance and mainstreaming framework for the EU budget
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.
Debt Sustainability Analysis Methodology in the EU's New Economic Governance Framework: An assessment
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.
Assessing the Debt Sustainability Analysis Methodology in the EU’s New Economic Governance Framework
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 ...
The implementation of country-specific recommendations under the European Semester cycles
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.
Confirmation hearings of the Commissioners-designate: Piotr Serafin – Budget, Anti-Fraud and Public Administration
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 ...
The role for the Advisory European Fiscal Board
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.
One Money, One Financial Market- The Capital Markets Union
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 ...
Recovery and Resilience Dialogue with the European Commission 16 September 2024
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.