Poland’s stance on the matter is that since the budget for the eurozone is to apply to a multi-annual framework, countries outside the zone should have a say in decision-making. So far that stance has been backed by the President of the European Council Donald Tusk who has allowed non-eurozone states to participate in EU summits. Poland can also rely on Hungary’s Viktor Orban.
Discussion on the eurozone budget is a debate between the advocates of financial solidarity and those opting for more austere budgetary regulations
Discussion on the eurozone budget is a debate between the advocates of financial solidarity and those opting for more austere budgetary regulations. France, backed by Southern Europe has been in favor of budgetary transfers within the eurozone. It has tried to persuade Germany to agree. However, the Germans have in the end agreed to a joint initiative, but of a very limited nature.
Just a few weeks ago the main risk to the idea of budgetary transfers came from the direction of Italy, where the government is increasing that country’s budgetary deficit. However, over recent weeks we have witnessed a slide in the credibility ratings of President Emmanuel Macron, who had to back down to protests and promise public spending that will take the French budget deficit above three percent of GDP.
