BUDGET: COUNCIL DEFERS DECISION ON OVERHAUL OF THE FINANCIAL REGULATION.

• Position: EcoFin Council - Brief Article

The EcoFin Council, which met on May 7, did not manage to overcome Italian opposition to the adoption of the proposed overhaul of the EU's Financial Regulation. Italy remains opposed as a matter of principle to the devolution of the management of spending to national public bodies in the sphere of external aid. In fact, inter-ministerial consultation has been held up in Rome and the Italian delegation has promised the Council Italy's go-ahead shortly. For its...