11/09/2006 (Agence Europe) - The European Parliament has approved the new draft amendment by the European Commission to the 2002 Financial Regulation governing the general EU budget, in a resolution adopted in Strasbourg on 6 September. The EP notes that the Commission amended its proposal in line with EP amendments (see EUROPE No. 9229 on the amendments tabled in the Ingeborg Gräßle Report, examined by the EP Budgets Committee in March 2006 and adopted in July). The Council is now asked to adopt its common report and open the consultation process with the EP with the aim of having simplified, updated financial rules better suited to the new generation of funding programmes that come into force in January 2007.