The debate on the establishment of a common budget Eurozone together with the completion of banking union comes in today at the Eurogroup table in the official agenda of which there is the Greek issue.
However, any discussion will be made on the sidelines of the meeting will focus on the results of the first round of negotiations and the progress of reforms.
Finance ministers of the Eurozone will prepare the ground for the Summit in December, which will deal with reforms for deeper integration.
However, the agreement is not expected given that there are very different views among the 19 Eurozone countries on most aspects of the reform.
By Eurozone summit on December 15 will begin a six-month consultation on deeper integration and the summit in June 2018 will be decided how you configured the future single currency area.
Among the possible changes include ideas for raising money for the Eurozone countries will manage a finance minister who will answer MPs Eurozone in the European Parliament.
Other proposals include the conversion of the European rescue fund at a European Monetary Fund and the creation of a sovereign default mechanism, which would lead to pressure from the markets on governments to follow prudent fiscal policies.
Some officials believe that the eurozone market participation is necessary because the EU financial rules - the Stability and Growth Pact - have become so complex and prone to political interpretations that are no longer effective.
The finance ministers will now discuss how to make the simplest as well as the rules for the upper limit of the budget deficit to 3% of GDP and debt to 60% of GDP in 1992 have reached standards recorded in hundreds of legal documents pages and explanations.
"We went through an article in the Maastricht Treaty in 400 pages and it is 400 times better," noted the official. But without agreement on every aspect of the reform, the debate will be difficult.
Concerning the main element of the reform, which is the budget of the Eurozone, the views of its size ranging from hundreds of billions of euros to none at all such a budget.
There is no agreement about whether it should be financed from this special taxes or levies countries or for if you have to make transfers or lend money. Some countries want the budget to support reforms and investments, while others think it should be used for paying unemployment benefits or address macroeconomic shocks affecting few Eurozone countries.
Agreement there is neither about how the eurozone banking union will be completed with a pan-European deposit insurance system. Germany is firmly opposed to this project because it fears that the stronger German banks may be forced to support their weaker competitors from other EU countries, such as Italy, where the bulk of "red" loan is a risk to the stability of the banking sector.
However, any discussion will be made on the sidelines of the meeting will focus on the results of the first round of negotiations and the progress of reforms.
Finance ministers of the Eurozone will prepare the ground for the Summit in December, which will deal with reforms for deeper integration.
However, the agreement is not expected given that there are very different views among the 19 Eurozone countries on most aspects of the reform.
By Eurozone summit on December 15 will begin a six-month consultation on deeper integration and the summit in June 2018 will be decided how you configured the future single currency area.
Among the possible changes include ideas for raising money for the Eurozone countries will manage a finance minister who will answer MPs Eurozone in the European Parliament.
Other proposals include the conversion of the European rescue fund at a European Monetary Fund and the creation of a sovereign default mechanism, which would lead to pressure from the markets on governments to follow prudent fiscal policies.
Some officials believe that the eurozone market participation is necessary because the EU financial rules - the Stability and Growth Pact - have become so complex and prone to political interpretations that are no longer effective.
The finance ministers will now discuss how to make the simplest as well as the rules for the upper limit of the budget deficit to 3% of GDP and debt to 60% of GDP in 1992 have reached standards recorded in hundreds of legal documents pages and explanations.
"We went through an article in the Maastricht Treaty in 400 pages and it is 400 times better," noted the official. But without agreement on every aspect of the reform, the debate will be difficult.
Concerning the main element of the reform, which is the budget of the Eurozone, the views of its size ranging from hundreds of billions of euros to none at all such a budget.
There is no agreement about whether it should be financed from this special taxes or levies countries or for if you have to make transfers or lend money. Some countries want the budget to support reforms and investments, while others think it should be used for paying unemployment benefits or address macroeconomic shocks affecting few Eurozone countries.
Agreement there is neither about how the eurozone banking union will be completed with a pan-European deposit insurance system. Germany is firmly opposed to this project because it fears that the stronger German banks may be forced to support their weaker competitors from other EU countries, such as Italy, where the bulk of "red" loan is a risk to the stability of the banking sector.
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