The President of the Eurogroup, Mario Centeno, today sent a letter to the President of the Euro Summit, Charles Michel, to report on the progress achieved by the Eurogroup on the deepening of the economic and monetary union (EMU).
Following the mandate given by the Euro Summit of 21 June 2019, the Eurogroup has continued working on:
- the ESM reform
- completing the banking union
- the budgetary instrument for convergence and competitiveness (BICC) for the euro-area.
The letter outlines the state of play on each of these work streams.
At the Euro Summit of 13 December 2019,leaders will take stock of the progress made on the deepening of the EMU since the June 2019 Euro Summit.