Portuguese Prime Minister António Costa strongly criticised the future fiscal capacity for the euro area as elaborated by the Eurogroup on Friday 13 December at the Euro Summit.
A budgetary instrument for convergence whose first beneficiary countries will be the five largest economies in the euro area is not a convergence instrument and must be reworked, Mr Costa said.
This Portuguese position contrasts with the report on the Eurogroup's work on the euro area's fiscal capacity that its...