Commission sets out Roadmap for deepening Europe’s Economic and Monetary Union

The European Commission has set out a Roadmap for deepening Economic and Monetary Union. The Commission wants to set up a European Monetary Fund (EMF) to assist euro area Member States in financial distress and which would also act as a last resort lender to facilitate the orderly resolution of distressed banks. The Commission also set out the possible functions of a future European Minister for Economy and Finance who could serve as Vice-President of the Commission and chair the Eurogroup. The package also contains a number of other elements, details of which are provided on the link below. EU leaders will discuss the package at their summit next week in Brussels.

Read more…