EU unveils plan to help countries join the euro but there are ‘no strict deadlines’

by Dramelin 5:00 AM 0 comments

The European Union announced fresh measures on Wednesday to further integrate the euro zone and assist members in joining the group`s monetary union, the euro.
European Commission Vice President Valdis Dombrovskis, who also serves as the European Commissioner for the Euro and Social Dialogue, presented the contours of a package for the completion of Europe`s Economic and Monetary Union (EMU) in an interview with CNBC from Brussels.
"We are currently proposing … How we can support the preparatory work and necessary reforms in those countries wishing to join euro zone," Dombrovskis said on Wednesday.
"And by this we are showing that euro zone should be enlarging, and the commission is ready to assist those member states working on this to ensure that they can be prepared to join the euro zone and can prosper within the euro zone.
" Europe`s Economic and Monetary Union represents the group of policies aimed at converging EU member states` economies through coordination of economic and fiscal policies and use of a common currency, the euro.