Economic news

European budget and deposit safety scheme put on hold

The ESM fund was granted additional responsibilities by EU ministers of finance today, whereas a standalone budget for euro zone states and a European deposit insurance system aimed at ensuring safety of all deposits in the currency bloc will be debated more, as no deal was reached on the subjects due to polarized attitudes.

Thus deposit insurance scheme raised many doubts in the countries of the euro zone, and they were not able to build a roadmap for talks to start in accordance with mandates given by the European leaders.

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