The EU Finance Ministers of the Twenty-Seven (all except the UK Minister) were still negotiating on the proposal for a detailed fiscal capacity architecture for the euro area and on the reform of the statutes of the European Stability Mechanism (ESM) on evening of Thursday 13 June in Luxembourg.
The announcement of a possible global agreement was no longer expected until Friday morning at the earliest when we went to press.
On Thursday evening, the ministers discussed only the reform of...