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The presidency has helped strengthen the group, since before Juncker's appointment the Eurogroup was only present at meetings in the European Parliament. Since the position of President of the Eurogroup was created, the president has attended the European Parliament Committee on Economic and Monetary Affairs every six months.
The three crucial problems of the European economic governance emerged during the crisis are the asymmetry in the policy-making process for centralized policies and decentralized ones, ambiguities related to the coherent functioning of the euro area and the EU as well as of distribution of powers between national institutions and supranational ...
The Euro-Plus Pact (or Euro+ Pact, also initially called the Competitiveness Pact or later the Pact for the Euro [1]) was adopted in March 2011 under EU's Open Method of Coordination, as an intergovernmental agreement between all member states of the European Union (except Croatia, Czech Republic, Hungary, Sweden and UK), in which concrete commitments were made to be working continuously ...
The European Central Bank ECB) used these loan products to lend money to Eurozone banks at extremely low interest rates. On the 2nd of May 2010, the ECB announced that the governing council which is the main decision- making body of the ECB) decided to suspend minimum credit rating thresholds for Greek government debt used as collateral in ...
Euro Zone inflation. The euro came into existence on 1 January 1999, although it had been a goal of the European Union (EU) and its predecessors since the 1960s. After tough negotiations, the Maastricht Treaty entered into force in 1993 with the goal of creating an economic and monetary union (EMU) by 1999 for all EU states except the UK and Denmark (even though Denmark has a fixed exchange ...
The Czech government will evaluate the merits of joining the ERM II exchange rate mechanism, a currency flotation band that aspiring countries must spend two years in before joining the euro zone ...
In July 2011, European leaders agreed to cut the interest rate that Ireland was paying on its EU/IMF bailout loan from around 6% to between 3.5% and 4% and to double the loan time to 15 years. The move was expected to save the country between 600 and 700 million euros per year. [129]
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