The Finances of the European Union (The European Union Series)

The finances of the European Union play a central, albeit rarely acknowledged, role in the dynamic of European political and economic integration. The author examines how the budget is being used to enhance the internal cohesion of the Union and its growing external commitments, and illustrates how it is no longer the prerogative of national governments: regional authorities, public agencies, universities and interest groups - all compete for budgetary largesse from Brussels. Considerable attention is devoted to lesser-known aspects of EU finances such as the work of the European Investment Bank, the Court of Auditors and the European Investment Fund. In conclusion, the author assesses the capacity of the Union to manage its financial resources, its strategies for combating fraud, the likely impact of enlargement, and Economic and Monetary Union, and the prospects for budgetary peace when the current financial framework runs out in 1999.