6/14, 11:54 AM (Source: TeleTrader)
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French FM: Eurozone budget to be operational in 2021

France's Economy and Finance Minister Bruno Le Maire stated on Friday that the budget of the Eurozone will be operational from 2021 and described it as a "game changer" and a "mini revolution." In a statement made after the meeting of the Eurogroup, Le Maire pointed out that there is "still a long way to go" and that he doesn't underestimate the challenges ahead.

Le Maire's remark came after the finance ministers of the European Union, collectively the Eurogroup, failed to agree on the financing and the size of the proposed budget for the euro area, and only outlined its broad purpose. "We must not forget some ministers and countries were absolutely against the eurozone budget, against the word, and against the fact," said EU economic affairs commissioner, Pierre Moscovici.

Breaking the News / NI