Press Release: Simpler, more effective and transparent financial rules to use EU funds

The European Commission on 18 May 2006 presented an amended proposal for the revision of the EU's Financial Regulation. The proposed changes would significantly simplify access to EU funds, while ensuring strict management and transparency. New rules needed to be in place by 2007, to equip the EU to deliver the ambitious programmes starting under the 2007-2013 Financial Framework. The current Financial Regulation, adopted in 2002, governs all transactions entered into by the European institutions. A review of the rules is required at least every three years.

European Commission: PreLex: COM(2006) 213: Modified proposal for a Council Regulation amending Regulation (EC, Euratom) No 1605/2002 on the Financial Regulation applicable to the general budget of the European Communities, 18.5.05 http://ec.europa.eu/prelex/detail_dossier.cfm?CL=en&ReqId=0&DocType=COM&DocYear=2006&DocNum=0213

European Commission: DG Budget: Financial Programming and Budget http://ec.europa.eu/budget/index_en.cfm

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