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EU Finance Ministers Fail to Agree On Key Aspects of the Euro Area Budget

LUXEMBOURG – EU finance ministers have failed to agree on some key aspects of the eurozone budget on Thursday and Friday and have decided to continue talks in the coming months, Reuters reported Friday.
Ministers wanted to reach an agreement on whether the 19-country euro area budget should be financed by dedicated taxes or whether it should only draw funds from the EU budget to 28 countries.
In the absence of consensus on sources of funding, the size of the euro area budget was not discussed, said the official.
The agreement also failed to determine whether the budget should play a stabilizing role in the event of a slowdown in the euro area economy or only help the euro area economies become more competitive and converge with others, said the manager.
(Sahar News Monitoring Desk)

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