Deepening Europe’s Economic Monetary Union: Taking stock four years after the Five Presidents’ Report

Summary:

Communication published by the European Commission in June 2019 taking stock of the progress made to deepen Europe's Economic and Monetary Union since the release of the Five Presidents' Report.

Further information:

The document notes that marked progress was made to strengthen the single currency area and make the Economic and Monetary Union (EMU) more robust than before. It is highlighted that many of the gaps revealed by the financial and economic crisis were addressed. However, a number of important steps were identified and remained to be taken.

In June 2015, a plan on how to deepen the Economic and Monetary Union (EMU) was published by the heads of the main institutions of the European Union - the Five Presidents' Report. Building on this vision, the Commission followed up with the White Paper on the Future of Europe, and subsequently the Reflection Papers on the Deepening of the Economic and Monetary Union and the Future of EU Finances. Later on, the European Commission also published a roadmap and adopted a number of proposals with the aim of enhancing the unity, efficiency and democratic accountability of the Economic and Monetary Union.

The Communication was published to embody the European Commission's contribution ahead of a Euro Summit held in June 2019.

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Official

European Commission: Press Release, 12/06/2019: Deepening Europe's Economic and Monetary Union: Commission takes stock of progress http://europa.eu/rapid/press-release_IP-19-2934_en.htm

European Commission: Opening remarks by Vice-President Dombrovskis on deepening Europe's Economic and Monetary Union, 12 June 2019 http://europa.eu/rapid/press-release_SPEECH-19-2972_en.htm

European Commission: Remarques du Commissaire Moscovici sur l'approfondissement de l'Union économique et monétaire européenne, 12 June 2019 [in French] http://europa.eu/rapid/press-release_SPEECH-19-2971_en.htm

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