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Towards a European Budgetary System

Author

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  • Marco Buti
  • Mario Nava

Abstract

The present EU budget is inconsistent with the current state and future prospects of European integration. Three failures are most evident: first, spending is heavily tilted towards the support of a declining sector, agriculture; second, it is almost impossible to reallocate spending across time and across policies; and third, its size is unrelated with the goals of the Union. Transforming the Community budget into a means through which the economic policy of the Union is consistently defined and put into practice requires correcting these failures. This can be done by moving towards a fully fledged 'European Budgetary System' in which the EU and national budgets pursue, in a co-ordinated manner, commonly-agreed objectives set in the Broad Economic Policy Guidelines. On a multi-annual basis, the EU Financial Perspectives and the national Stability and Convergence Programmes would be set within an aggregate European Budgetary Programme. Annually, this should give rise to a EU Budget Law to be approved alongside national budget laws.

Suggested Citation

  • Marco Buti & Mario Nava, 2003. "Towards a European Budgetary System," EUI-RSCAS Working Papers 8, European University Institute (EUI), Robert Schuman Centre of Advanced Studies (RSCAS).
    • Handle: RePEc:erp:euirsc:p0077
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    Cited by:

    1. Mare, Mauro, 2015. "Why and How should the EU budget be reformed?," MPRA Paper 76112, University Library of Munich, Germany.

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    Keywords

    fiscal federalism; fiscal policy; budget;
    All these keywords.

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