The Assembly of European Regions (AER), which is the largest independent network of regions in wider Europe, regrets in a statement the historical reduction in the European Union budget, following the agreement reached between European leaders on the Multiannual Financial Framework 2014-2020.

Michèle Sabban, President of the Assembly of European Regions (AER), underlined that the Regions of Europe deeply regret the severe cut (-8.5%) made to the cohesion policy. This statement was made following the agreement reached between European leaders on the Multiannual Financial Framework 2014-2020 on February 11.

The AER highlighted that the cuts will have a direct impact on the territories to which European funds bring a breath of fresh air, allowing them to successfully carry out economic and social actions that could not have been implemented otherwise. According to the AER, structural funds help boost employment over the long term, thanks to the European Social Fund measures, provide critical support to Small and Medium Enterprises (SMEs), to innovation and research infrastructures, and are the most visible sign of benefits of EU action on citizens and economic and social development of regions.

The Assembly also stressed its support to the European Parliament in assuming its responsibilities and giving the EU a budget in line with the challenges that lie ahead. Cohesion Policy is, for the AER, a solidarity instrument, not only between countries but most importantly between European regions - solidarity that is now being seriously compromised through this budget.