Large number of EU finance ministers want euro zone budget: Dijsselbloem

BRUSSELS (Reuters) – A large number of European Union finance ministers believe that some form of a euro zone budget, called a fiscal capacity, would be a good to stabilize the single currency area, the chairman of euro zone finance ministers Jeroen Dijsselbloem said on Monday.

All European Union finance ministers except Britain held talks on Monday afternoon on how to integrate euro zone economies more deeply over the coming years.

A euro zone fiscal capacity was among the topics, along with reducing and sharing risks in the banking sector to create a European deposit insurance scheme for all savers.

“Quite a large number of ministers feel that to complement our toolkit with a fiscal capacity for as a stabilization tool would be useful,” Dijsselbloem told a news conference after the ministers’ deliberations.

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