The EU budget, which dispenses 120 billion euro each year, suffers from an accountability gap. Highly opaque revenue arrangements prevent citizens from understanding how much they pay into the budget (an average of 190 euro each year per capita); therefore, they are not stimulated to demand a proper accounting. As a result, pressure from public opinion plays a limited role in influencing EU decisionmakers. Starting from the concept of accountability and the fundamentals of the EU framework, this study examines the existing accountability arrangements and explains the reasons for and the consequences of diffused responsibilities and of the resulting accountability gap. Finally, the book sketches a possible scenario for the future, with two main characteristics: an interpretation of the concept of "European added value" based on limited and achievable objectives and one single accountability framework.