21 Aug 2017
showCASE 40 | A Eurozone budget: Taking a “Two-speed” Europe to the Next Level?
Spanish Prime Minister Mariano Rajoy recently announced that Spain will advocate for deepening the Economic and Monetary Union (EMU), creating a euro area budget, and introducing Eurobonds. Rajoy is not the first European leader to reinforce an idea that has been around for years: a separate budget for the Eurozone was one of French President Emmanuel Macron’s slogans during his electoral campaign, and calls for deeper integration have been repeatedly mooted as a solution for the Eurozone crisis. Furthermore, the concept has been endorsed by the European Commission and by the European Parliament. But what would the creation of a separate Eurozone budget mean for Member States outside the currency union?
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