As well as a presentation of the new 2014-2020 multiannual financial framework, this book covers the full history of the EU budget from 1953 on. It also offers an in-depth explanation of the legal framework governing the adoption and management of the EU budget as well as an overview of its structure. Last but not least, it features a detailed overview of the control mechanisms which apply to the EU budget so that it respects sound financial management principles. This publication provides expert readers with the information needed to gain a more detailed understanding of how the EU budget can contribute to building a competitive and more prosperous Europe. It can also serve as a solid reference work for all those interested in EU budgetary matters.