The European Parliament and the Council are the budgetary authority of the EU. The two institutions, assisted by the European Commission, decide on the EU budget in the annual budgetary procedure. The briefing discusses actors, timing and possible scenarios set for adoption or non-adoption of the annual budget. The briefing sketches the life cycle of an amendment to the budget. It presents negotiations consisting of trilogue meetings and conciliation. Last but not least, the text explains what happens if there is no agreement on the EU annual budget.
https://www.europarl.europa.eu/thinktank/en/document.html?reference=EPRS_BRI(2019)640129
Source: © European Union - EP