The Greek Presidency managed to strike a unanimous political agreement, within the Council of EU, on the legislative package of own resources, related to the EU's multiannual financial framework (MFF) 2014 -20.

With this agreement, the prompt and steady financing of the EU policies is reassured.

The Greek Presidency, after continuous informal meetings with the representatives of those member states which had expressed concerns, succeeded in overcoming the difficulties posed and submitted a compromise proposal, satisfying the concerns of all member states.

The legislative package of own resources is consisted of:

(a) A Proposal for a Council Decision on the System of the Own Resources of the European Union.

(b) A Proposal for a Council Regulation laying down implementing rules for the  System of the Own Resources of the European Union.

(c) A Proposal for a Council Regulation on the methods and procedures for making available the traditional, VAT and GNI based own resources and on the measures to meet cash requirements.

Τhe aforementioned  legislative texts will be submitted to the European Parliament for its consent and will then be approved by member states in accordance with their national procedures.