Eurozone ministers reach compromise to strengthen euro ‘against any financial crisis’

Eurozone finance ministers have agreed to strengthen the single currency bloc’s defenses against any future financial crisis. Eurogroup President Mario Centeno said on Tuesday that “after several months of intense negotiations and a very tough and long meeting we delivered a comprehensive plan to strengthen the euro.” New measures will be introduced to keep on top of any further financial crisis and to enhance debt sustainability, according to Centeno. One proposal will see the bailout fund, the European Stability Mechanism, provide financial assistance in times of need. The discussions among the 19 eurozone finance ministers pitted France against several northern European nations, AP said. Government leaders will consider the plan at an EU summit next week.

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