On July 11 the European Parliament held a workshop in Brussels focused on the revision of the EU Financial Regulation.

As well as a moment to review the progress of the last period, the event offered the chance for the stakeholders to have a meeting following the public consultation that took place in the early months of 2016.

The Financial Regulation is central for the functioning of the European Union and the first text was adopted in 1977. It lays down the basic rules applicable to the general budget and it also defines the rules for public procurement, the award of grants and prices and the general rules governing financial instruments. The regulation foresees that revisions shall be undertaken whenever it is necessary and in any case within two years before the expiry of the 2014-2020 Multiannual Financial Framework.

After a three-year period of its application, the Commission considered it necessary to revise part of the contents, having defined the following priorities: simplification of the rules and of the financial architecture, promotion of synergies in the implementation of the EU budget and programs, promotion of a clear accountability framework.

 

Biographies of speakers and presentations

European Parliament's Briefing

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