“Completing Europe’s EMU”: the 5 Presidents’ report

Ahead of today’s Eurogroup Summit on Greece President Donald Tusk published a 5 President’s Report “Completing Europe’s Economic and Monetary Union”.

This report reflects the personal deliberations and discussions of the five Presidents and focuses on the euro area, as countries that share a currency face specific common challenges, interests and responsibilities to prepare the Union for future global challenges and to enable each of its members to prosper.

The euro is a successful and stable currency. The process towards a deeper EMU is nonetheless open to all EU Members.

The report, demonstrates that a lot can and should be done in the short term within the current treaty framework to improve the Economic and Monetary Union. “All four Unions depend on each other. Therefore, they must develop in parallel to create a better and fairer life for all citizens”, says the report. This message is even more important in the middle of the crisis with Greece.

Progress was made on Greece:

The new Greek proposals to the three institutions are a positive step forward according to the initial assessment of the institutions; @eucopresident remarks following EuroSummit meeting on 22 June 2015.

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