The International Monetary Fund suggested the creation of a budget that aims to support structural reforms in the Europe zone. This idea was suggested by the European Commission back in 2012 but was opposed by Germany and was consequently relinquished.
However, IMF Director Christine Lagarde stated that the common pot of money for the advancement of the euro zone will only be accessible to countries that abide EU’s budget rules stated in the Stability and Growth Pact (SGP). The new fund can also finance projects associated with migration, security, refugees, energy and climate change.
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