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Prague European Summit 2018 Study: The Future EU Multiannual Financial Framework

Daniel Šitera coordinated the Prague European Summit 2018 Study - The Future EU Multiannual Financial Framework: A Comprehensive Economic Policy Vehicle to Support a Real EU Added Value. The study was presented on the 2018 Prague European Summit. 

The Commission presented in May 2018 its proposal for the next Multiannual Financial Framework, including beyond 2020. The proposal has confirmed the expectations in many aspects. It really builds on a substantially changed basis in which almost all the elements that were recommended for following the future challenges have been included. On the other hand, a strong line of continuity has been kept there as well. Therefore, it will be necessary to sensitively incorporate the new elements into the adjusted budgetary façade. This could lead to a feeling of some kind of realistic optimism combined with many subsequent expectations regarding the content of other legislative proposals and especially the attitudes of Member States and the European Parliament. To reach a consensus will be feasible, but it will be very difficult. There will surely be a resistance against the changes as well as the implementation of the new elements in the system. On the other hand, it is possible to predict that for some players the changes and new elements could seem to be too soft.

Download the study here.

Author of the Study

Petr Zahradník is a Member of the European Economic and Social Committee where he represents the Czech Chamber of Commerce. He is also a Member of the Scientific Council at the Faculty of Finance and Accounting at the University of Economics in Prague and from 2001 to 2013 he was lecturing the economy of transformation and integration at New York University. Moreover, he is also a member of the Economic and Strategic Analysis Team in Česká spořitelna (Erste Group).

Coordinator of the Working Group
Daniel Šitera is a Coordinator of the Centre for Political Economy of the Institute of International Relations and a Lecturer at the Charles University in Prague. He was a Policy Officer at the Ministry of Industry and Trade of the Czech Republic and served simultaneously as a National Expert in the Council of the EU (Competitiveness and Growth). He has been also a Ph.D. Candidate in Global Studies at the University of Leipzig.

Special Thanks

The author and coordinator would like to express their thanks for the helpful comments provided by the representatives of the Ministry of Foreign Affairs of the Czech Republic and the Office of the Government of the Czech Republic during the meetings of the coordination group.