EU Budget

Question 1

Eurozone members in keeping debt

Answer 1

Eurozone members were also obliged to keep their overall debt to less than 60% of GDP

Question 2

The Commission in draft budgets

Answer 2

The Commission has the power to oversee eurozone countries’ draft budgets.

Question 3

What is the MMF?

Answer 3

Multiannual Financial Framework sets the maximum annual amounts, which the EU can spend in various policy areas over a given period. Usually 7 years

Question 4

How much does the EU budget has

Answer 4

It has an annual budget of over €129bn.

Question 5

Budget on farming and foreign aid

Answer 5

The EU spends €114 billion each year on projects ranging from farming to foreign aid.

Question 6

Which EU institutions negotiate and approve the EU budget?

Answer 6

The national governments (acting through the EU Council), and the directly elected European Parliament approve the proposal before the start of each year.

Question 7

Agriculture in the EU Budget

Answer 7

Agriculture swallowed 47% of the money spent by the EU, with France receiving the largest share.

Question 8

Second largest of EU budget

Answer 8

Regional aid accounts for 32% of spending.

Question 9

What is the regional aid for?

Answer 9

It is used to boost the economies of poor, remote or under-populated parts of the EU.

Question 10

The impact of 12 new states in 2004

Answer 10

The accession of 12 new states since 2004 led to a sharp fall in the average wealth of EU countries.

Question 11

The third largest spend in budget

Answer 11

On foreign aid, the money is used to fund cross-border projects in order to foster good relations with neighbouring countries.