Eurozone should have its own budget in place by 2021
The eurozone should have its own budget in place by 2021 with the financial firepower to absorb economic shocks, proposed France and Germany on Monday. Governments can tap into the budget totaling tens of billions of euros annually only if they comply with strict rules on economic policy coordination. The budget would help promote greater convergence and have a stabilizing function. Since Slovakia is among the euro zone’s poorest members, it would benefit greatly from the budget that would finance its automotive or energy investments. Euro zone members will discuss the new budget in mid-December.