Memo: FAQ on Erasmus and its budget

On 23 October 2012, the European Commission asked the Council and the European Parliament to urgently bridge a €9 billion shortfall in the 2012 EU budget; without this cash injection, several of its funding programmes, including the flagship Erasmus student exchange scheme, will be at risk.

The Commission's amending budget proposal highlights a €180 million deficit in the Lifelong Learning Programme budget, with €90 million needed to meet commitments to Erasmus students, as well as a shortfall of €102 million for researchers supported by the Marie Curie Actions.

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