FXstreet.com (Barcelona) - European Council President Herman Van Rompuy was reported to be preparing a document which will be presented at the EU summit on 18 and 19 October and which proposes granting financial incentives to those member states which apply all EU recommendations.
The draft report states that the EU is considering the possibility of supporting the reformatory efforts of some of the member states. This could be done by providing limited, selective, flexible and temporal incentives.
In return, the Eurozone would require that the beneficiary countries sign individual contractual arrangements including the reforms which are supposed to be carried out, their limits and their application.
The objective of the solution proposed by Van Rompuy is to advance toward an economic union in the Eurozone by creating mechanisms which prevent the forming of unsustainable budgets.
The draft report states that the EU is considering the possibility of supporting the reformatory efforts of some of the member states. This could be done by providing limited, selective, flexible and temporal incentives.
In return, the Eurozone would require that the beneficiary countries sign individual contractual arrangements including the reforms which are supposed to be carried out, their limits and their application.
The objective of the solution proposed by Van Rompuy is to advance toward an economic union in the Eurozone by creating mechanisms which prevent the forming of unsustainable budgets.
