2024-2 EU Society 3rd Session (October 8, 2024) > EU Society at KUGSIS

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The Third Session of the EU Society began with Mathilda’s presentation titled "EU’s Budget: An Overview." In her talk, Mathilda simplified the complexities of the European Union’s budget by first outlining its primary income sources and then addressing the major challenges the budget faces. She started by explaining the main revenue streams, beginning with Customs Duties, which generate funds for the EU and regulate external trade by safeguarding EU industries from global competition. She also covered VAT-based Contributions, where each member state contributes a portion of its national Value Added Tax (VAT) revenue. 

During a discussion with fellow students, they explored various topics, including the significance of EU membership for many member states and the potential drawbacks of leaving the Union. They also touched on the differences in how much each country contributes to the EU budget and how funds are distributed, noting that wealthier countries, despite contributing more, often receive a comparable return. A key point of debate was whether other nations might consider following the UK's lead in leaving the EU. This sparked a lively discussion among society members about the Union's long-term viability, particularly given the growing euroscepticism in certain areas.

At the end of the session, members were invited to participate in the European Day of Languages at the EU delegation, and a group was organized to attend together on the following Saturday, on October 12, 2024. Additionally, Kenza, the current president of EU Society at Korea University GSIS, arranged a special lecture for EU society members at the EU delegation, scheduled for November 12, 2024.  

As usual, EU Society members were encouraged to attend the next meeting, which will cover an important topic: Regulations on sex work and its implications in the EU.