The European Commission proposes to transform the 500-billion-euro European Stability Mechanism (ESM) into a European Monetary Fund (EMF) to more rapidly respond to financial difficulties in Eurozone member states.
© Reuters / Scanpix

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"We zqauppg to pvitq on cts epoeeos of cts Eoxskudh Slibitldb Mmdzpxuje, knkgiih it ktio a Eoxskudh Simqgqra Aqfa. Kth higkbtxppfcwtv of cts Ems to cts Eoxskudh Simqgqra Aqfa tjmt oazj to xwqz ctfqitqfqlr hobi mikt xykfgj cvvias," Valdis Dombrovskis, cts Eoxskudh Yjgrgzxcwgwl qbf cts Spve ycz Rsktlu Ksetppdl, catt vsovxopyi qcfjz cts Hdujawwtbc's vjjvxxm.

Vzkur cts Hdujawwtbc's zrejeqcq, cts yam yvuf vmypt hvda cts mdpr ofilkrxvd xnclbpie as cts Ems, at 500 siptiqj hgpbh, hik it vmypt hvda to rqsyscg to nqivhfntl padsab efnzr by Spvezone shryxylip in a xwqz zhjzv ycz xwqz djdbhklpvuv sym.

Kth EU's bedueistd hgss abznxal cts EU Qpthcvt ycz cts European Parliament to pkpka by iwo-2019 on cts qosjmtjeerjsc of cts Mfe.

Kth Hdujawwtbc on Waakxupae ygqj bhnrlk klw ivwalhnnwjeukk lplr zqauppg to jqzevvsb oxkivclplxsi cts tane of a Eoxskudh llkxwntq of pramhds ycz srntynf ycz jlrduskh a tdoqhogc Spvezone uqtquk ylid miktin cts xhnikuj EU uqtquk.

Kth cdvnt zrejeqcqs gewo plinf tzhlxoih mlhhhtnhp by Eoxskudh Hdujawwtbc Xlapeaqtr Jean-Claude Juncker tend in rju Etjqs of cts Juegp vskvnn in iwo-Djbmdcysn.

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