• About
  • Advertise
  • Privacy & Policy
  • Contact
Saudia Times
Advertisement
  • Home
  • Africa
  • Business
  • Europe
  • Finance
  • latest news
  • Middle East
  • Politics
No Result
View All Result
  • Home
  • Africa
  • Business
  • Europe
  • Finance
  • latest news
  • Middle East
  • Politics
No Result
View All Result
Saudia Times
No Result
View All Result
Home Business

Commission rolls out road map for eurozone overhaul

admin by admin
December 10, 2017
in Business
0
Commission rolls out road map for eurozone overhaul
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

The eurozone’s bailout arm would become a European Monetary Fund that is firmly anchored in EU law as part of an overall reform package the European Commission unveiled on Wednesday to complete the bloc’s economic and monetary union.

The EU’s executive arm’s proposals also include plans to appoint a eurozone economy and finance minister who would simultaneously serve as a Commission vice president and chair the Eurogroup, and to create EU budgetary instruments to support the economies of countries using the euro.

The Commission also wants to completely integrate national commitments to a balanced budget into the bloc’s treaties, as they are currently bound by intergovernmental agreements. Doing so would likely make it legally more difficult for governments to appeal against the fiscal rules, which would be enforced by the EU’s highest court.

The package is broken into two parts. The plans for the EMF and budget deficit rules are proposals, while communications of intent outline the Commission’s desire to introduce a eurozone finance minister and reserving parts of the EU budget for eurozone incentives.

“We need a stronger tool box [to deal with economic crises],” said Valdis Dombrovskis, the Commission vice president for the euro. “This happened in the euro once before, so we can’t have this happen again.”

The Commission’s proposals come a week before EU leaders gather in Brussels to agree on a common vision for reform. But national leaders are unlikely to discuss all of the Commission’s proposals, according to a draft agenda obtained by POLITICO.

Instead, eurozone heads of state intend to discuss how best to strengthen crisis-response capabilities and complete plans to introduce a European deposit insurance scheme to protect savers from failing banks.

Developing the European Stability Mechanism into an EMF is also on the draft agenda, although it’s unlikely that the discussion will involve roping the new body into EU law.

Original Article

Politico

The post Commission rolls out road map for eurozone overhaul appeared first on News Wire Now.

Previous Post

Rise of Brexiteers in battle of ideas with City of London

Next Post

Joy in bankville over Basel deal

admin

admin

Next Post
Joy in bankville over Basel deal

Joy in bankville over Basel deal

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected test

  • 79 Followers
  • 93.2k Subscribers
  • 22.9k Followers
  • 99 Subscribers
  • Trending
  • Comments
  • Latest
Ethiopian army claims control of Tigray city

Ethiopian army claims control of Tigray city

November 29, 2020

Pope expresses support for same-sex civil union laws in new documentary

October 22, 2020
Surrender deadline nears as Ethiopia prepares Tigray attack

Surrender deadline nears as Ethiopia prepares Tigray attack

November 25, 2020
Coronavirus: Italy has highest daily death toll in six months, Hungary, Netherlands set new measures

Coronavirus: Italy has highest daily death toll in six months, Hungary, Netherlands set new measures

November 4, 2020
Iraq’s Kurdistan offers to freeze independence referendum results

Iraq’s Kurdistan offers to freeze independence referendum results

0
Outcry over naming Mugabe WHO ambassador

Outcry over naming Mugabe WHO ambassador

0

Somalia bombings: Death toll climbs to 358

0

At least 16 Egyptian police officers killed while raiding hideout

0
Ethiopian army claims control of Tigray city

Ethiopian army claims control of Tigray city

November 29, 2020
Surrender deadline nears as Ethiopia prepares Tigray attack

Surrender deadline nears as Ethiopia prepares Tigray attack

November 25, 2020
‘The Flight Attendant’ serves up a fun trip thanks to Kaley Cuoco

‘The Flight Attendant’ serves up a fun trip thanks to Kaley Cuoco

November 25, 2020
Trump’s outcasts in the civil and foreign service may get a second chance under Biden

Trump’s outcasts in the civil and foreign service may get a second chance under Biden

November 25, 2020

Recent News

Ethiopian army claims control of Tigray city

Ethiopian army claims control of Tigray city

November 29, 2020
Surrender deadline nears as Ethiopia prepares Tigray attack

Surrender deadline nears as Ethiopia prepares Tigray attack

November 25, 2020
‘The Flight Attendant’ serves up a fun trip thanks to Kaley Cuoco

‘The Flight Attendant’ serves up a fun trip thanks to Kaley Cuoco

November 25, 2020
Trump’s outcasts in the civil and foreign service may get a second chance under Biden

Trump’s outcasts in the civil and foreign service may get a second chance under Biden

November 25, 2020
Saudia Times

We bring you the best Premium WordPress Themes that perfect for news, magazine, personal blog, etc. Check our landing page for details.

Follow Us

Browse by Category

  • Africa
  • Business
  • Europe
  • Finance
  • latest news
  • Middle East
  • Politics
  • Uncategorized

Recent News

Ethiopian army claims control of Tigray city

Ethiopian army claims control of Tigray city

November 29, 2020
Surrender deadline nears as Ethiopia prepares Tigray attack

Surrender deadline nears as Ethiopia prepares Tigray attack

November 25, 2020
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2021 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result

© 2021 JNews - Premium WordPress news & magazine theme by Jegtheme.