EU
Summit on #eurozone future in December still on despite no German government - Tusk
A summit of eurozone leaders will go ahead as planned in the middle of December, the chairman of European Union leaders said on Wednesday (22 November), dispelling speculation it might be postponed because of the collapse of German coalition talks.
He said he discussed the agenda of the meeting over the phone on Wednesday with the chairman of eurozone finance ministers Jeroen Dijsselbloem.
German government coalition talks collapsed on Sunday night as the liberal FDP party pulled out after weeks of “exploratory” talks, plunging the eurozone’s most important economy into political uncertainty and raising the prospect of new elections.
Eurozone leaders are to set a direction for deeper euro zone economic integration at a summit in the middle of December, at which Germany’s input is crucial.
The summit is to launch six months of work that would lead decisions in June 2018 on whether or not the single currency area should have a budget, a finance minister and a separate eurozone assembly within the European Parliament.
The deeper integration push, championed by French President Emmanuel Macron, also includes the transformation of the eurozone bailout fund into a European Monetary Fund and the creation of a sovereign insolvency mechanism.
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