Brussels, 16/04/2014 (Agence Europe) - Reform of the financing of European political parties and their legal status was enshrined by the European Parliament on Wednesday 16 April (see EUROPE 11042).
In line with the implementing regulation, from 2017, European political parties and foundations will be able to manage their finances more easily when the upper limit on donations rises from €12,000 a year per donor by €18,000. The name of the donor and the amount donated must be published for any donation over €3,000 and the donor must give their authorisation for this information to be published for any donation of between €1,500 and €3,000. The percentage of own resources that a European political party will have to have in its coffers in order to be eligible for EU financing remains at 15%. The EP and an independent body will monitor compliance with the regulation. In the event of breach of the rules, sanctions include being put on an EU blacklist of people and bodies not entitled to EU aid for five years (ten years in the event of re-offending) and/or a fine of 2% of the value of the financing (20% in the event of re-offending). (LC)