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This volume provides a comprehensive analysis of the growing financial power of the European Union in a lively and accessible form. It examines how the budget is used to enhance the internal cohesion of the Union and its growing external commitments. Considerable attention is paid to lesser known aspects of EU finances such as the work of the EIB and the Court of Auditors. The management of EU finances is a central focus of this book. The book concludes with an assessment of the future prospects of the budget.