In a report to the Council published on 30 August, the European Commission concludes that the EU's medium-term financial support mechanism for the balances of payments of the member states (the 'BOP' instrument) is a tool that has proven its worth.
It finds that the member states that have used the instrument since 2012 (Romania, Hungary and Latvia) have been able to return to accessing financing from the markets after seeing their balances of payments improve. The Commission also...