This volume provides a comprehensive analysis of the growing financial power of the European Union in a lively and accessible form. It examines how the budget is used to enhance the internal cohesion of the Union and its growing external commitments. Considerable attention is paid to lesser known aspects of EU finances such as the work of the EIB and the Court of Auditors. The management of EU finances is a central focus of this book. The book concludes with an assessment of the future prospects of the budget.

'Topical, broad in coverage and entertainingly written, this book offers an excellent introduction to the operation and significance of the European Union's financial arrangements, with political and economic considerations drawn together well.' - Robert Ackrill, Regional and Federal Studies

Introduction - Public Finance and European Integration - Budget Rules and where the Money Comes From - Making Budgets - Building a Union Internal EU Expenditure - The External Reach of the Union - Managing the Finances of the Union - The Second Financial Arm of the Union Borrowing and Lending - An Elusive Budgetary Peace?