Is there any articles concerning the finances allocated to Development Cooperation?
There is no specific article on the finances going to EU development policy. The share of the EU budget going to Development Co-operation will be defined in the financial negotiations. The Constitution sets the framework for these negotiations. EU finances are being defined in 2 steps: A. Negotiation on a multiannual financial framework. These negotiations define how much will the member states be contributing to the EU budget in a given period (currently 7 years period). These financial negotiations are currently taking place for the period 2007-2013. The role of the European Parliament in these negotiations will be increased with the Constitution B. Annual budget negotiations Every year the Parliament co-decides with the Council on the budget. Members of the European Parliament and representatives of the Council have therefore the possibility, on a proposition coming from the Commission, to switch money from one objective to another. However they cannot increase the overall amount of
