Eurozone agreement: a mini revolution? | 8 July 2019

Bruegel event recordings

Eurozone finance ministers have announced after their June meeting a newly-proposed Eurozone budget. One product of the negotiations is the Budgetary Instrument for Convergence and Competitiveness (BICC), designed to act as a tool for the budget and to be implemented by 2021. However, the ministers were unable to decide on details like the budget's funding and uses. Many have criticised the resulting proposal as a diluted and diminished version of the original proposal for a budget by French President Emmanuel Macron. Bruegel was honoured to welcome French Minister of the Economy and Finance Bruno Le Maire, who has described the budget as a "mini revolution", to elaborate on the ongoing discussion concerning the practicality of the agreement and the success of the negotiations.