Part one of term paper
Spring 1999 was supposed to be the 's finest hour, as its Economic and Monetary Union finally got underway. Instead, the union was thrown into turmoil. After a scathing report suggesting corruption and mismanagement in the European Commission, all 20 commissioners were forced to step down. At the same time negotiations to reform the EU budg ...

Part two of term paper
... reforms - but they are less drastic than originally envisaged. The EU budget compromise reached in Berlin is an intricate numbers game, hammered out in 20 hours of non-stop talks. The reforms are not as radical as many politicians had called for. Several countries fought hard to protect their share of EU money and, as all budget decisions have to be unanimous, they could have vetoed any deal going against them. In typical EU fashion, the compromise budget is mixture of give and take, but ...