November 26, 2012
CA = Commitment Appropriations (the maximum amount of money allocated to each heading)
PA = Payment Appropriations (the maximum amount of money which is actually going to be disbursed)
So, basically, the total reduction in payments proposed by the European Commission is less than €127 million. The justification is the usual one: EU member states have committed to a series of projects which are now about to be finalised – and there are outstanding bills to be paid. But, if you are a government under an EU-mandated austerity programme – or a a household – you are forced to prioritise and find savings when there is not enough money in the pot.