EU: EU Commission, review of draft budgets. Dombrovskis, “reforms fine but monetary Union still incomplete”

(Brussels) “Despite all the institutional reforms implemented in the past few years, the European economic and monetary Union is still incomplete. Therefore, we must take advantage of favourable economic times to keep strengthening the EMU and make our economies more resilient and inclusive”. This was said by Valdis Dombrovskis, deputy president of the EU Commission in charge of the euro, as he presented the review of the draft budgets of the members of the euro-zone, at a press conference in Brussels. “Next month, we will submit new ideas to further strengthen the EMU. However, strengthening the architecture of the monetary Union will not get rid of the need to pursue sound nationwide economic, social and budget policies: this is the main goal of the European semester”. Dombrovskis added: “Today, we are presenting the EU Commission’s opinion on the draft budgets and call the member states that could fail to meet the stability and growth pact to take measures to adjust their budgeting process”.