Spain will call for a eurozone budget and finance minister to oversee it at an August 28th summit with France, Germany and Italy, Prime Minister Mariano Rajoy said Monday. "We are going to continue to work to deepen economic and monetary union," conservative Rajoy said after meeting King Felipe on Mallorca. Despacho del Rey con el Presidente del Gobierno, Mariano Rajoy https://t.co/vm1BHsagnO pic.twitter.com/RPKea1FZJE — Casa de S.M. "Spain is going to bet on the existence of eurobonds, a European treasury emitting eurobonds," said Rajoy, adding that would bolster eurozone market credibility. Spanish Finance Minister Luis de Guindos in June urged deep reform of the eurozone to include the creation of a "European monetary fund" and decide on "a certain percentage of national budgets.

Source: The Local August 08, 2017 07:41 UTC