Budget Of The European Union
The European Union has a budget to pay for policies carried out at European level (such as agriculture, assistance to poorer regions, trans-european networks, research, some overseas development aid) and for its administration, including a parliament, executive branch, and judiciary that are distinct from those of the member states. These arms administer the application of treaties, laws and agreements between the member states and their expenditure on common policies throughout the Union. Some 5% of expenditure is on administration, 95% on policies.
To pay for this, the EU had an agreed budget of €120.7 billion for the year 2007 and €864.3 billion for the period 2007–2013, representing 1.10% and 1.05% of the EU-27's GNI forecast for the respective periods.
Read more about Budget Of The European Union: Setting A Budget, Court of Auditors, The EU Budget For 2014-2020
Famous quotes containing the words budget, european and/or union:
“You can fool all the people all the time if the advertising is right and the budget is big enough.”
—Joseph E. Levine (b. 1905)
“It has become necessary to call the attention of European governments to a fact which is apparently so insignificant that the governments seem not to notice it. The fact is this: an entire people is being annihilated. Where? In Europe. Are there witnesses? One witness, the entire world. Do the governments see it? No.”
—Victor Hugo (1802–1885)
“[With the Union saved] its form of government is saved to the world; its beloved history, and cherished memories, are vindicated; and its happy future fully assured, and rendered inconceivably grand.”
—Abraham Lincoln (1809–1865)