The financial year is central to the democratic process. Within a country, the financial year materialises the government’s political project and brings the democratic forces into play via the proposal and adoption of the government’s annual budget. The budget is therefore the founding act of a political community in so far as it creates the political space and acts as a lever for local democratic life. The creation of a European budget is therefore the basis for the creation of a European political community and a democratic public sphere.
Furthermore, this budget will serve to finance the very conditions for the viability of democracy in Europe. By ensuring respect for social justice and by ensuring lasting and more balanced growth, this budget will respond to the risks facing Europe. To maintain its legitimacy, the social State must be capable of redistributing the wealth created in an equitable manner. To justify the legitimacy of the common market, Europe must be capable of regulating globalisation and of directing economies towards sustainable growth.
This post was written by admTDEM