The European Commission has published a report on progress made in Europe since the publication of "The Five Presidents' Report" of 2015, in which five of the EU's key figures set out their agenda for deepening the EU's Economic and Monetary Union. The report is published ahead of the Euro Summit on June 21, 2019, where EU leaders will meet to review progress in tackling the challenges faced by the EU.
The report reviews the recent achievements of the European Economic Monetary Union, and provides an overview of existing initiatives. Key amongst these are:
The report then considers its projects for future development of these initiatives and invites EU leaders to consider the following actions to aid completion of the Economic and Monetary Union: (i) reaching agreement on the Budgetary Instrument for Convergence and Competitiveness; (ii) finalizing the changes to the Treaty establishing the ESM and integrating the ESM into EU law; (iii) completing the Banking Union; and (iv) accelerating progress on the Capital Markets Union and stepping up efforts to strengthen the Euro's role in the global economy.
View the European Commission's Progress Report.
View the Five Presidents' Report.
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