European finance ministers are expected to reach a political agreement setting out the modalities for a fiscal capacity for the euro area at the enlarged Eurogroup meeting on Thursday 13 June.
Their discussions on how to finance the future euro area budget and the aims of this embryonic instrument, based on the mandate given at the end of 2018 by the euro area summit (see EUROPE B12160A1), promise to be lengthy. On Wednesday, a diplomat only foresaw an agreement on Friday in the early...