Economics
EU Leaders Set to Approve More Work on Euro Budget This Week
- Final agreement on budget features to be prepared by June 2019
- Proposal pits advocates of safety net against fiscal hawks
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European Union leaders are set to mandate the design of a controversial budget for the euro area as part of a plan to shore up the common currency, according to draft conclusions of their summit on Friday.
Finance ministers from the euro area will be asked to “to work on the design, modalities of implementation and timing of the budgetary instrument,” read the Dec. 11 document seen by Bloomberg. A final compromise on the features of the budget will be prepared by June 2019, it said.