EU exec proposes euro fund for shocks, reforms, investment loans
Brussels
THE European Commission proposed on Wednesday to create a eurozone pool of money to help countries deal with economic crises that are not of their doing, to support investment and give cash incentives for structural reforms to join the single currency.
The Commission package, to be discussed by all European Union leaders except Britain on Dec 15, aims to unite the EU around the single currency after growing anti-EU sentiment across Europe and Britain's expected departure from the bloc in 2019. "The measures will support member states to make their economies more resilient and stable, and reinforce our crisis-management capacity," Commission vice president Valdis Dombrovskis told a news conference.
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