European Central Bank President Mario Draghi urged eurozone member states to complete the banking union with a European Deposit Insurance Scheme, noting the “substantial” reduction of risks in the banks’ balance sheets and the benefits of risk-sharing.
The European Commission is pushing for the adoption, by mid-2019, of the proposal to create a unified seat at the International Monetary Fund, as part of its package to strengthen the economic and monetary union presented on Wednesday (6 December).
The European Fiscal Board, the EU's finance watchdog, wants clearer rules and real sanctions to punish profligate member states and limit the European Commission’s discretion to interpret the Stability and Growth Pact.
State Secretary of Finance Ivan Lesay does not include Slovakia among the “hawkish” member states opposed to a fiscal stimulus for the eurozone. In an interview with EURACTIV, he also backed calls for a European unemployment insurance scheme.
As the EU prepares to celebrate its 60th anniversary, the “ever closer union” principle that underpinned the European project is being put on hold as the bloc struggles to survive its annus horribilis.