The finance ministers of the Twenty-Seven (all but Britain) reached an agreement on Friday morning, June 14, on the objectives of fiscal capacity for the euro area. However, they have not found a compromise on the financing and governance issues of this instrument, which will be launched in 2021.
“The text on the table is by necessity a compromise and it leaves open a wide range of issues”, Pierre Moscovici, European Commissioner for Economic and Financial Affairs, told the press. “It...