Revenue/income
The EU obtains revenue not only from contributions from member countries but also from import duties on products from outside the EU and a percentage of the value-added tax levied by each country.
Expenditure
The EU budget pays for a vast array of activities from rural development and environmental protection to protection of external borders and promotion of human rights. The Commission, Council and Parliament all have a say in how big the budget is and how it is allocated. But the Commission and EU countries are responsible for the actual spending.
Euro/monetary union
The euro – used every day by some 327 million Europeans – is the most tangible proof of cooperation between EU countries. Its benefits are immediately obvious to anyone travelling abroad or shopping online on websites based in another EU country.
