Economic and Monetary Union of the European Union

Ten years after the outbreak of the financial crisis it suffered, with the bank bail-in, the Republic of Cyprus has finally exited the excessive imbalances procedure (EIP) of the European Commission, on the basis of the European Union documents that were issued under the spring package of the 2023 European Semester on Wednesday in Brussels.

Romania has made limited progress with the 2019 country-specific recommendations, taking into account that the substantial progress made in the financial and banking sectors have been counteracted by the lack of progress regarding the fiscal framework, the public pension system, the minimum inclusion income, predictability in the decision-making process and the governance of state-owned compani

The Greek government's reform plan, the attraction of investments, and the tackling of non-perfuming loans held by the country';s lenders where the main issues discussed between Prime Minister Kyriakos Mitsotakis and outgoing President of the European Central Bank (ECB) Mario Draghi on Wednesday.

Romania loses on the competitiveness front and we are also concerned with the country's current account deficit which might affect the convergence efforts, European Commission's Vice President in charge of Euro and Social Dialogue, Financial Stability, Financial Services and Capital Markets Union Valdis Dombrovskis told a conference on Thursday.

The Cooperation and Verification Mechanism (CVM) of the European Commission proved an obstacle not only for Bulgaria's membership in Schengen but the euro area, too. The July Eurogroup discussed Bulgaria's application for membership in the common currency and changed for the first time its membership criteria, which will, from now onward, be valid for all other candidates.

On 22 June 2018, the Council approved draft recommendations and opinions on the member states' economic and fiscal policies for 2018.

The European Commission will propose on Wednesday deeper eurozone integration that would help unite the broader European Union rather than just the single currency area.

A new set of financial laws, aimed at strengthening the efficiency of the implementation of fiscal consolidation entered into force in Serbia on January 1.

It is meant to fight the gray economy and ensuring financial discipline and economic recovery of the country, the Ministry of Finance said.

By European Commission President Jean-Claude Juncker

I have always said, Mr President, that the European Parliament is the Parliament of the euro, and I say it again today (December 15).

ECB President Mario Draghi called for a quantum leap in European and Monetary Union (EMU) integration and presented a report published by the presidents of five EU institutions. The report, titled “Completing Europe’s Economic and Monetary Union”, had been commissioned by leaders at the Euro Summit last October.