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6/14, 6:50 AM (Source: TeleTrader)
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EU ministers reach agreement on budget - Le Maire

French Minister of the Economy and Finance Bruno Le Maire stated on Friday that the European Union ministers agreed on the new budget for the eurozone. The consensus was achieved after a long discussion during the night and will be presented at the EU summit in Brussels next week. Its exact size has not yet been determined, but will reportedly be less than the "several hundred billion euros" campaigned for by French President Emmanuel Macron.

"For the first time, we have created an operational budget that will help euro area countries to converge and become more competitive. It's a breakthrough. For the first time, we will begin to think of the future as a coherent bloc and coordinate our economic policies," Le Maire told AFP.

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