With public debt-to-GDP levels now set to surpass post-war records and Italy’s ratio approaching levels reached in Greece on the eve of the country’s debt restructuring in early 2012, fears of a return of the sovereign debt crisis have emerged.

In the current negotiations about the European Union’s next medium-term Multiannual Financial Framework (MFF) for the period 2021 to 2027, the system of own resources financing EU expenditures plays a relatively important role.

Despite its political significance the size of the European Union's budget is rather modest: the expenditures make up less than one per cent of the EU's Gross National Income. This article aims to examine the long-term problems linked to the budget. Critical analysis of characteristic features...

The current system for the financing of the EU needs to be reformed. This paper puts forth a reform proposal with two important elements: first, the addition of an EU VAT share on receipts; and second, a shift in power from the European Council to the European Parliament with regard to the...

The following paper addresses the ongoing debate on the questions of the composition and financing of the European Union's common budget. The authors argue in favour of a significant enlargement of the budget, together with a profound reform of its composition and financing.

The most prominent and debated issues in the negotiations on the next Multiannual Financial Framework for the EU for the period 2014-2020 were the overall budget volume, the structure of expenditures and the continuation of the rebates for (some) net contributor countries. However, the system of...

This year we celebrate the 25th anniversary of the European Single Market. The Single Market’s achievements cover various areas but there is still room for improvement. Against the background of this historic and economic development, this article discusses different legal acts that are being...