On Friday, 14 December, at the euro area summit, the Heads of State or Government of the Twenty-Seven instructed the Finance Ministers to work, by June 2019, on drawing up a proposal for budgetary capacity for the euro area limited to instruments to support convergence and competitiveness.
“I am quite happy [...]although I would have liked a spontaneous creation of a 'yes' to the stabilisation function” for the euro area budget, Jean-Claude Juncker, President of the European...