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  HOME | Business & Economy (Click here for more)

Eurozone Finance Ministers to Discuss Budget, Fiscal Rules

BRUSSELS – Economy and Finance ministers of the Eurozone (Eurogroup) are set to meet on Monday to discuss the completion of the banking union and discuss ways to simplify the bloc’s fiscal rules.

The ministers will also discuss ideas to set up a common budget and discuss the appointment of the next president of the Eurogroup to replace Jeroen Dijsselbloem, the former Dutch finance minister.

The first working session of the group will focus on preparations for the Eurozone Heads of State and Government summit in December on reforming the single currency area.

In the session dedicated to the Banking Union, the ministers will look at ways to end a stalemate and establish the European Deposit Guarantee System (EDIS) and simplify fiscal rules for the bloc.

The presidents of the Single Resolution Board (JUR) and the Single Supervision Mechanism (MUS), Elke Konig and Daniele Nouy, respectively, will also attend the meet to present their six-monthly reports to the group.

Meanwhile, the voting to elect Dijsselbloem’s successor will be held on Dec. 4.

Member countries – each one of whom has one secret vote – will nominate their candidates two weeks ahead of voting.

 

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