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EU member states agree to push on with eurozone reform by June

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Leaders of eurozone countries on Friday agreed to push forward with stalled negotiations to reform the currency area and deepen its monetary union.

Leaders of the 19 euro countries said in a statement that the technical work on the European stability mechanism (ESM) bailout fund on strengthening the banking union should be finalised.

The statement said leaders should also move forward with their plans for a fledgling eurozone budget.

“Progress in the package of reforms, deemed necessary in the wake of the last financial crisis will also enhance the international role of the euro, which should be commensurate with the global economic and financial weight of the European Union.

“We encourage work to be taken forward on all these issues and will come back to them at the latest in June 2020.’’ the statement read.

Edited by: Hadiza Mohammed/Emmanuel Yashim

(NAN)

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