Commissioner Moscovici's introductory remarks at the Eurogroup press conference

07 September 2018

The Commission had its first follow-up discussion in expanded format following the June Euro Summit, which confirmed the December deadline for the next decisions to be taken to reform and strengthen the EMU. Everybody agreed on the time table proposed by the President of the Eurogroup.

For the Commission, the priorities for action concern of course:

• The Banking Union – meaning the backstop to the Single Resolution Fund, on which EC had a detailed and useful discussion and steps towards the European Deposit Insurance Scheme, which remains the third leg of the Banking Union without which it will not be complete; EC insists on delivering on this.
• The broad reform of the European Stability Mechanism with a view to its integration into the EU law but also the cooperation between EC‘s institutions, EC is working with that.
• The package of economic initiatives presented within the context of the next Multiannual Financial Framework, notably the European Investment Stabilisation Function and the Reform Support Programme. This Commission is attached to the creation of a euro zone budget.

The Commission is fully committed to reach tangible results in time for the December Euro Summit and I welcome the clear roadmap that has been set for the time being now and then.

There is no time to lose to deliver on EC’s proposals to create the conditions for a more stable, dynamic and inclusive economy of the euro area.

Press release

Main results of the Eurogroup

© European Commission