Messenger RNA transcription in fungi, particularly in the budding yeast Saccharomyces cerevisiae, is one of the main models for transcriptional research. In this chapter, we review the main mechanisms that operate during fungal RNA polymerase II-dependent transcription, from the initiation step to the termination one. In the elongation phase, processing of the nascent transcript, including 5 0 capping, splicing, 3 0 end formation and transport, is coupled to transcription. The RNA polymerase II template is not naked DNA, but chromatin. We review the impact of chromatin in the elongation phase and in the phenomenon of RNA polymerase II backtracking. Strikingly, synthesis and degradation have been shown recently to be connected, resulting in a general buffering system for messenger RNA concentration. In this way, messenger RNA synthesis, processing, and degradation are interlinked and have the potential to influence each other.