Abstract
European Union as a entity with own resources, single currency and Central Bank, How the European Union arrange the revenue and expenditure structure of annual budget for accomplish the goals set by the establishing the European Union founding Treaties. and handle with all kinds of problems after ten eastern countries enter into the European Union. With the enlargement of the European Union by ten new member states, budget negotiations over the next Multiannual Financial Framework are inevitably going become more complicated and complex. Sustaining the European Union's capacity to act therefore requires not only new financial engineering, but also a fundamental rethink of the European Union's economic governance and of the financial means and resources necessary for achieving its objectives. The European Union budget rules are stipulates in articles 268 to 280 of the Treaty of Amsterdam. The budget is proposed by the Commission, and approved unanimously by the Council after consulting the European Parliament. The annual European Union budgets are constrained by the Multiannual Financial Framework, an inter-institutional agreement between European Parliament, the Council and the Commission, whereby the main budgetary priorities are agreed in advance over a period of seven years and enshrined in a framework called the Financial Perspective. The Financial Perspectives indicate a maximum expenditure under each of the established headings in terms of million of euros and as percentages of Community GNP. Between the authorised own resources ceiling and actual payment appropriations there is a margin for unforeseen expenditure that provides room for adjustment in the resources available for the Community. The United Kingdom rotate as Chairman of the Presidency of Council of European Union, the period of seven years Multi-annual Financial Framework (MFF) 2007-2013 was passed at 12.2005,what are implied meaningfulness of the 2007-2013 Multi-annual Financial Framework, it to be worth to confer.
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