The Importance of Financial Law in the Public Law System

Abstract

In order to carry out the activities of the European communities and, therefore, to achieve the
objectives provided by the treaties, they have needed certain financial resources since their establishment. The
situation is currently valid within the European Union. These resources must cover the expenses necessary from
an administrative point of view, identifying the funds necessary for the functioning of community institutions
and bodies, especially the funds necessary to support the so-called operational expenses, which correspond to
the realization of the policies provided by the treaties (Lefter, 2003, p. 237). Currently, the European
construction is no longer possible without its own financial framework, namely adequate financial resources,
and the process of establishing this framework had an inconstant evolution. The EU had to find and establish
financial resources for the implementation and development of community policies. The controversies
regarding fiscal and budgetary issues were not absent from this field either and concerned a varied range of
aspects: the EC's own financial resources, the budgetary imbalance, even the rivalries between the community
institutions (respectively the European Commission, the European Parliament and the Council of Ministers).
Therefore, the overwhelming importance of the patrimony to support the entire activity of the collective subject
of law is highlighted.