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European Council

Agreement on the new EU multiannual budget


In line with fiscal consolidation efforts in the member states, EU leaders agreed to cut the financial resources available to the EU from the level of the current MFF 2007-2013. However, in order to enhance growth and jobs, funds for research, innovation and education have been increased. Leaders also agreed on a new initiative designed to tackle the pressing challenge of youth unemployment.

The  President of the European Commission José Manuel Barroso stresed the levels agreed by the Heads of State and Government are below what the Commission considers desirable … However “the deal that has been agreed can still be an important catalyst for growth and jobs.”

The President highlighted several positive elements of the new multiannual budget:

1. The basic structure of the Commission proposal and some innovative instruments have been preserved, including the Connecting Europe Facility which provides for investment in transport, energy and the digital agenda. This makes the EU´s budget a tool for competitiveness and growth with a pan-European logic.

2. More significant investment in European programmes crucial for supporting growth and jobs creation – such as Horizon 2020 for research and innovation, Erasmus for all for student exchanges and training abroad, and COSME for small and medium sized enterprises

3. Important elements designed to address the current major social challenges have been included, especially a new Youth Employment Initiative.

Of interest