The Own Resources Decision (ORD) and EU public finances

Ana Belén Macho Pérez

Chapter 17 in Research Handbook on Post-Pandemic EU Economic Governance and NGEU Law, 2024, pp 255-271 from Edward Elgar Publishing

Abstract: In the wake of the Covid-19 crisis, followed by the Russsian invasion of Ukraine, the EU’s public finances are undergoing a transformation process, both in terms of expenditures and revenues. The classic Multiannual Financial Framework has been reinforced with a specific additional Fund (NextGenerationEU (NGEU)), which represents a significant volume of public spending. Its centrepiece is the Recovery and Resiliency Facility, now amended by the REPowerEU Regulation. To finance this fund the European Commission is borrowing on the capital markets on behalf of the EU. The need to finance this European public debt may well be the definitive impetus for new EU taxes. This tax reform is not easy due to the unanimity rule, among other factors; but it reflects a very important change within the EU, both in its own fiscal policy and that of the states, and it also implies a strategic reconfiguration of the EU, which is yet to be defined.

Keywords: Economics and Finance; Law - Academic; Politics and Public Policy (search for similar items in EconPapers)
Date: 2024
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.elgaronline.com/doi/10.4337/9781035328161.00028 (application/pdf)
Our link check indicates that this URL is bad, the error code is: 503 Service Temporarily Unavailable

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:elg:eechap:23111_17

Ordering information: This item can be ordered from
http://www.e-elgar.com

Access Statistics for this chapter

More chapters in Chapters from Edward Elgar Publishing
Bibliographic data for series maintained by Darrel McCalla ().