These include a new fund, new budgetary instruments and the functions of a possible European Minister of Economy and finance. Despite important institutional reforms to strengthen Europe's Economic and Monetary Union (EMU) over recent years, the Commission believes that the EMU architecture remains incomplete. The Roadmap reflects remaining challenges and sets the way forward. Delivering against the `Five Presidents' Report' (2015) and President Juncker's `State of the Union' (2017) address, the Roadmap is aligned with previous papers on the Deepening of the Economic and Monetary Union and the Future of EU Finances.
The Commission has announced four key initiatives:
The Commission is seeking to press ahead with the overall aim of enhancing the unity, efficiency and democratic accountability of the EMU by 2025, and to progress its agenda for jobs, growth, investment, social fairness and macro-economic stability. Bolstering the EMU's architecture is viewed as key in overcoming vulnerabilities, reducing disparities, enhancing economic resilience and securing economic growth and stability across Europe.
It is one of ten priorities targeted for completion before conclusion of the current Presidency term, which also include the digital market, sustainable finance, migration policy and democratic change. This would seem an impossible agenda, but persistent geo-political tensions and uncertainties, including Brexit, are creating additional impetus.