European Monetary Fund

AGERPRES special correspondent Tudor Martalogu reports: Romania takes over the half-yearly Presidency of the Council of the European Union at an important moment for Europe, marked by multiple challenges, but we are realistic and ambitious in our approach, with common effort and political will being necessary from both the Council and the European Parliament, Minister of Public Finance Eugen Or

The Cooperation and Verification Mechanism (CVM) of the European Commission proved an obstacle not only for Bulgaria's membership in Schengen but the euro area, too. The July Eurogroup discussed Bulgaria's application for membership in the common currency and changed for the first time its membership criteria, which will, from now onward, be valid for all other candidates.

German Chancellor Angela Merkel has ruled out a possible alleviation of Italy's credit burden and, in an interview with the German newspaper Frankfurter Allgemeine Sonntagszeitung, she explained that the principle of solidarity between Eurozone members should not transform the currency union into a debt-sharing instrument, Reuters , quoted by Focus.

The leaders of Germany and France meet on Thursday to try to work out a common position on reforming the euro zone, a sensitive issue that is testing the new government in Berlin just a month after it took office, Reuters reports.

German Chancellor Angela Merkel backs the idea of a European Monetary Fund, provided national governments have sufficient oversight, sources close to her said before a visit by the French president.

International Monetary Fund chief Christine Lagarde has no objection to plans to turn the eurozone's bailout fund into a European Monetary Fund, she said in comments published on Saturday.

Bulgaria has taken over the EU's six-month rotating presidency, but it is likely to find that its priorities do not exactly coincide with those of other member states. The Bulgarian government wants its presidency to be remembered, first and foremost, for having advanced the cause of western Balkan countries keen to join the EU.

Veteran European Central Bank policymaker Ewald Nowotny has backed turning the European Stability Mechanism (ESM) into a IMF-styled lender and for it to take over from the ECB in Greece's bailout program.

Former Greek finance minister Yanis Varoufakis supports Macron’s federalist proposals on the euro single currency but believes only a real threat could make Germany budge on the issue.

More than fifty years ago, in 1965, French President Charles de Gaulle withdrew his ministers from the Council of the EU, de facto vetoing all decisions.

Emmanuel Macron is planning to barge in on German coalition talks next week by detailing ambitious reforms for the eurozone, in an attempt to force Berlin to shift ground on its approach to the single currency, reported the Financial Times.