Europe’s heads of state and government have agreed at their summit on a Reform of the Eurozone. This also includes a Budget for the Euro area in the context of the EU budget and a member of Chancellor Angela Merkel (CDU) said on Friday in Brussels. Were also adopted to strengthen the Euro bailout Fund, the ESM, and a financial safety net for the settlement of bankrupt banks.
The French President Emmanuel Macron penetrates since 2017 on a separate Euro zone Budget. After a long struggle, Germany and France agreed a few weeks ago, in a joint proposal on a significantly scaled-down variant within the EU budget. But even this was a controversial issue. Especially the Netherlands and Austria, but also Non-Euro countries such as Poland have more reservations. Merkel acknowledged that the budget of the Euro area is controversial. “This has given the Finance Ministers for a long time, and quite controversial discussions,” said the Chancellor.
the purpose of the Euro-zone budget is to strengthen economic convergence between the member States and the competitiveness. The Minister of Finance should draw up the corresponding proposals, Merkel said. How big is the Budget, should be in the negotiations on the next EU multiannual financial framework for 2021 to 2027 to decide.
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budget of the Euro countries, Germany and France, agreed at a Euro zone Budget
Here is a unification in the fall of 2019 is the goal. It might, however, be significantly lower than that of Macron originally required several hundred billion euros. (AFP)
