|Author (Person)||Rocha, Frederico|
|Series Details||December 2017|
|Content Type||News, Policy-making|
The overall aim of this Roadmap is to enhance the unity, efficiency and democratic accountability of EU's Economic and Monetary Union by 2025. Adding to those guidelines, the package includes four main initiatives:
+ The proposed setting up of a European Monetary Fund (EMF), anchored with the EU's legal framework and built on the structure of the European Stability Mechanism (ESM);
+ A proposal to integrate the substance of the Treaty on Stability, Coordination and Governance into the Union legal framework;
+ A Communication on new budgetary instruments for the Eurozone within the Union framework, including support to Member States for structural reforms through a reform delivery tool and technical support at the request of the Member States; a dedicated convergence facility for Member States on their way to joining the euro; a backstop for the Banking Union, through the EMF/ESM; a stabilisation function in order to protect investments in the event of large asymmetric shocks;
+ A Communication spelling out the possible functions of a European Minister of Economy and Finance who could serve as Vice-President of the Commission and chair the Eurogroup, as is possible under the current EU Treaties;
This Roadmap builds on the vision set out in the Five Presidents' Report of June 2015 and the Reflection Papers on the Deepening of the Economic and Monetary Union and the Future of EU Finances from the Spring 2017.
The European Commission published on 6 December 2017 a Roadmap for deepening the Economic and Monetary Union, containing a package of communications and legislative proposals to achieve the purpose.
+ Communication on 'A European Minister of Economy and Finance' [COM(2017)823]
+ Proposal to strengthen the Structural Reform Support Programme [COM(2017)825]
|Subject Categories||Economic and Financial Affairs, Politics and International Relations|
|Countries / Regions||Europe|