Publication

After a historical review of the evolution of the European financing system, the authors explain in detail its current extreme complexity, unfairness and lack of transparency. They then present the three components of the reform that they propose to bring to EU financing: firstly, a radical change to the system of own resources; second, the creation of European project bonds to finance investments for huge European infrastructures, and third, more synergies and rationality in the budget as it stands today, economies of scale being a non-negligible tool for budgetary efficiency.