Reports on Mario Monti See all

Mario Monti and European Commission President Jean-Claude Juncker at a press conference

New narratives emerging on EU finances

The European Union’s inflexible budget process – constrained by seven-year Multiannual Financial Frameworks (MFFs) – has left the bloc almost incapable of handling major crises. The resort to ad hoc solutions over the past decade has only made the situation worse. Now, reformers are considering new revenue sources, and even more revolutionary steps such as EU taxes or a separate eurozone budget.

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