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During the February II session, Parliament is due to vote on giving consent to the first-ever revision of the EU's multiannual financial framework (MFF). That revision will provide €21 billion of additional funds, including €17 billion for Ukraine. Parliament has repeatedly demanded that the EU's long-term budget be revised urgently, to enable the EU to rise effectively to the challenges it faces. The agreement reached between Parliament and the Council ensures stable medium-term financial support ...

The EU's common foreign and security policy (CFSP) contributes to the Union's objectives of preserving peace, strengthening international security, promoting international cooperation, and developing and consolidating democracy, the rule of law, respect for human rights and fundamental freedoms. The European Parliament's Committee for Foreign Affairs (AFET) adopted its annual report on the implementation of the CFSP on 28 November 2023. The report highlights the need for stronger, more ambitious ...

Due to the veto of one Member State, the EU failed to agree on a €50 billion financial support package for Ukraine at the European Council meeting of 14 and 15 December 2023. As the EU's current financial support for Ukraine through the macro-financial assistance package MFA+ ran out at the end of 2023, a new solution is urgently needed to provide the necessary funding to Ukraine. While an agreement among all 27 Member States and within the EU's multiannual financial framework is highly preferable ...

Having failed to agree on the revision of the EU's 2021-2027 budget at the December European Council meeting, Member States will attempt to break the impasse at an extraordinary meeting on 1 February 2024.

The main objective of the special European Council meeting on 1 February 2024 is to finalise EU leaders' position on the revision of the multiannual financial framework (MFF). While the aim is to reach an agreement among all 27 Member States, alternatives could be used based on an agreement of 26 Member States. EU leaders may also use the meeting to raise other topics – notably, the war in Ukraine and the possible use of frozen Russian assets, next steps in the enlargement process, security and defence ...

Despite predictions of a long and inconclusive meeting, EU leaders achieved a historic and highly symbolic agreement to open accession negotiations with Ukraine and Moldova, grant candidate status to Georgia, and open accession negotiations with Bosnia and Herzegovina, once the latter complies fully with the membership criteria. Even if the European Council did not finalise discussions on the revision of the multiannual financial framework – which includes, inter alia, an aid package for Ukraine ...

The last regular European Council meeting in 2023, on 14 and 15 December, promises to be a very challenging one. All the salient topics of 2023 – notably the war in Ukraine, enlargement, revision of the EU's multiannual financial framework (MFF) and the conflict in the Middle East – are on the agenda; and on many of these, EU leaders are divided. Whereas the conclusions on the war in Ukraine and the conflict in the Middle East will reiterate previous positions, the European Council will focus on ...

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.

In June 2023, the European Commission adopted an amended proposal for a Council decision on the introduction of new own resources, following its December 2021 proposal. The amended proposal is in line with the roadmap included in the Interinstitutional Agreement on Own Resources, part of the 2021-2027 multiannual financial framework and the Next Generation EU package. Parliament is due to vote on the Committee on Budgets report during its November I plenary session, after which the Council can adopt ...

Establishing the Ukraine Facility

At a Glance 11-10-2023

The Ukraine Facility has been designed to support Ukraine, its recovery and its path to EU accession, with up to €50 billion for the period from 2024 to 2027. The Commission has proposed a draft regulation, on which the Committees on Budgets (BUDG) and Foreign Affairs (AFET) jointly adopted a report on 5 October 2023. A partial vote is envisaged in the October II plenary, setting a mandate for subsequent trilogue negotiations. To finance the Facility, a revision of the multiannual financial framework ...