Mario Monti presents recommendations on the future financing of the EU

Today, Mario Monti presents to the College of Commissioners the conclusions on the future financing of the EU, drawn up by an independent group he had chaired. The High-level Group on Own Resources considers that the EU budget needs reform, both on the revenue and on the expenditure side, to address current challenges and to achieve tangible results for European citizens. The group was set up in February 2014 to reflect on more transparent, simple, fair and democratically accountable ways to finance the European project. It was composed of personalities who, whilst being designated by the European Parliament, the Council and the European Commission, contributed in their personal capacity. The Commission takes note of the conclusions and will take them into account in the preparatory work for the next Multiannual Financial Framework. Further details will be available in a press release, a Memo and a factsheet issued by the High-level Group.