The euro area provides an embryonic budget

Brussels white Smoke in Luxembourg this Friday, for the meeting of the Finance ministers of the euro area. After two years of hard and laborious negotiations

The euro area provides an embryonic budget

Brussels

white Smoke in Luxembourg this Friday, for the meeting of the Finance ministers of the euro area. After two years of hard and laborious negotiations, and a final meeting that lasted for fifteen hours, until the morning, "we have a budget of the euro area", welcomes Bruno Le Maire.

In two years, the ambitious ideas of a minister of the euro, a powerful fund against asymmetric shocks or of a european fund of guarantee of deposits have just disappeared from the panorama. Only the concept of a budget of the euro area has survived. And after a first failed attempt in December last year, a decision was awaited. But the differences persisted until the last moment. The ministers have had to multiply the exchanges until 4 o'clock in the morning to smooth out as much as possible the last points of tension. They succeeded only in part.

is it really a victory? Yes, say the most optimistic. It is even a "mini-revolution", according to the French minister. There are still ...

Updated Date: 16 June 2019, 00:00

Kathleen Lees

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