Financial Law of the European Union

This publication is worthy of attention for a number of reasons. This is mainly due to its, on many levels, innovative nature. First of all, this is a unique item on the scientific publishing market, which comprehensively treats topics of financial law of the European Union; the issues concerning the general budget of the EU, the Union funds or EU law of public finances have so far been discussed to a limited extent only. Secondly, at the beginning of the first chapter the author introduces the categorisation - the systematization of EU financial law according to its scope, i.e. what subjects (Communities, member states) comply with legal provisions in the acts under three pillars of the EU. Nobody upholding the doctrine has so far attempted a theoretical review of such systematization. Kosikowski suggests a distinction between two areas of financial law of the EU. The first one is the internal financial law, aimed mainly at Community institutions and Communities which themselves constitute separate legal entities. Its scope includes provisions concerning monetary law and the European System of Central Banks, EU finance which consists of, in particular: income (so-called own resources), expenditures, creation of a multiannual strategy of financial and budgetary planning in the EU, EU general budget (including establishment procedures), implementation and control, EU funds and other financial instruments, budgetary discipline, system of financial control, protection of the EU financial interests. The second area, the external financial law of the EU, includes provisions concerning member and associated states' duty to bring domestic law into line with EU law. Its scope encompasses the following issues: public finance sector, calculation of gross domestic product and gross national income, budgetary convergence criteria, monitoring and preventing excessive budget deficit, tax harmonization, and the single financial market of the EU.