Eurozone ministers reach compromise deal on reform package

FAN Editor 6 years ago
Image 1 of 2

▼

European Central Bank President Mario Draghi, front second right, and Portuguese Economy Minister Mario Centeno, center right, hold giant euro coins during a group photo of EU finance ministers in Brussels, Monday, Dec. 3, 2018. The euro celebrates 20 years of being in use in January of 2019. At front left is Luxembourg’s Finance Minister Pierre Gramegna and second left is European Commissioner for Economic and Financial Affairs Pierre Moscovici. (AP Photo/Olivier Matthys)

Eurozone finance ministers have agreed to strengthen the single currency bloc’s defenses against any future financial crisis.

Continue Reading Below

Eurogroup President Mario Centeno said early Tuesday that “after several months of intense negotiations and a very tough and long meeting we delivered a comprehensive plan to strengthen the euro.”

Centeno said that new measures will be introduced to keep on top of any further financial crisis and to enhance debt sustainability. One proposal will see the bailout fund, the European Stability Mechanism, provide financial assistance in times of need.

The discussions among the 19 eurozone finance ministers pitted France against several northern European nations.

The plan now moves to next week’s EU summit of government leaders.

Free America Network Articles

Leave a Reply

Next Post

Quora data breach exposes 100 million users' personal info

Tue Dec 4 , 2018
Information sharing website Quora has announced a data breach which has exposed “approximately 100 million users'” personal data. The company said in a statement released Monday that it discovered the “unauthorized access to one of our systems by a malicious third party,” on Friday. Chief Executive Adam D’Angelo wrote in […]

You May Like