EU countries did not support the creation of a unified budget for the euro area

French President Emmanuel Macron and German Chancellor Angela Merkel have taken the initiative to create a common budget for the euro area. However, 12 countries of the European Union opposed this project, the Financial Times reported referring to the letter of the Minister of Finance of the Netherlands, Wopke Hoekstra, to Eurogroup president Mario Centeno. The Dutch minister stated about the existing “wide discrepancies” in the issue of the need to create a unified budget for the euro area. He noted that a number of countries expressed concerns about “moral risks” and the issues of “fiscal neutrality' that arise when considering this project.

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