Thread: Brexit (Old)
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Old 11-03-2019, 12:10   #8308
nomadking
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Re: Brexit
Official EU document
Quote:
In his 2017 State of the Union speech, President Juncker announced concrete measures to address some of the remaining shortcomings identified on the previous steps of this journey. On 6 December 2017, the European Commission presented a package of initiatives to deliver on those promises.
...
The package includes :
  • A Communication on the further steps towards completing the Economic and Monetary Union.
  • A proposal to bring the European Stability Mechanism (ESM) into the EU legal framework, transforming it into a European Monetary Fund.
  • A proposal to double the financial envelope of the Structural Reform Support Programme.
  • A proposal to integrate the substance of the Treaty on Stability, Coordination and Governance in the Economic and Monetary Union, which includes the Fiscal compact, into the framework of EU law.
  • A Communication spelling out ideas for a new dedicated euro area budget line within the EU budget, to provide for four functions: structural reform assistance; a stabilisation function; a backstop for the Banking Union; and a convergence instrument to give pre-accession assistance to Member States on their way to euro membership.
  • A Communication on establishing a European Minister of Economy and Finance, to increase the democratic accountability and the efficiency of policy making
Quote:
  • Completing a genuine Financial Union
An integrated and well-functioning financial system is essential for an effective and stable Economic and Monetary Union. Building on the momentum of what has already been achieved in recent years, a consensus needs to be found on the way forward. This includes moving ahead with elements that are already on the table and agreeing on additional steps to take between now and 2025. This will involve completing the Banking Union and making progress on reducing and sharing risks in the banking sector, with measures to make European banks even more resilient. In order to provide more diverse and innovative financing opportunities for the real economy, including through capital markets, delivering on Capital Markets Union is also paramount.
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