EU Contingent Financial Liabilities. An Updated Appraisal

Contingent liabilities have grown considerably in their magnitude and their complexity and will continue to increase during the Multiannual Financial Framework 2021-2027. We aim to provide a granular assessment regarding the existing EU contingent liabilities, the risks associated with them, and the best ways to manage them. This project has the following main objectives: first, the study explores the risks existing contingent liabilities cause for the EU and the evolution of these liabilities and associated risks in the recent past, and it provides a forecast on their development in the future. Secondly, we analyse the overall framework for monitoring, identifying and provisioning for any risks to the EU budget due to contingent liabilities.