FXstreet.com (Córdoba) - EU leaders will endorse idea of eurozone budget, which would be separate from the long-term budget of the wider European Union, Reuters reported on Friday, citing draft conclusions of an EU summit to take place next week.
"In that context, mechanisms to prevent unsustainable budgetary developments, as well as mechanisms for fiscal solidarity, e.g. via an appropriate fiscal capacity, should be explored," the draft obtained by Reuters said.
The conclusions also showed that EU leaders would support the idea of eurozone countries entering into contractual agreements with EU institutions to implement reforms.
"In that context, mechanisms to prevent unsustainable budgetary developments, as well as mechanisms for fiscal solidarity, e.g. via an appropriate fiscal capacity, should be explored," the draft obtained by Reuters said.
The conclusions also showed that EU leaders would support the idea of eurozone countries entering into contractual agreements with EU institutions to implement reforms.
