Flexibility instrument

Instrument allowing the financing for a given financial year of clearly identified expenditure which could not be financed within the limits of the MFF ceilings available for one or more headings. Established in the interinstitutional agreement of 17 May 2006, the flexibility instrument permits the budgetisation of EUR 600 million per year (2011 prices). The portion of this amount that was not used during a year may be used in the following three years