Eurozone finance ministers and finance ministers are today in Brussels discussing the controversial budget plans of the Italian government (15.00).The ministers are discussing the rejection of the draft budget by the European Commission because of an excessive deficit and excessive total debt.
The government in Rome has until 13 November to make corrections. Otherwise, you are threatened with a deficit procedure that can lead to heavy fines or cuts in EU aid.The topic of the meeting will also be the results of the stress tests carried out by the European Banking Authority (EBA). Finally, the reform of the Monetary Union, which is expected to deliver results by December, will also be discussed. The aim is to strengthen the ESM ESM and a financial safety net for bank crises.