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5th March 2020
Banking & Finance Institutional law

Analysis: “The budgetary instrument for convergence and competitiveness: some remarks on form and substance” by Ana Bobić

The aftermath of the euro crisis created an impetus among Member States to re-think possible mechanisms to prevent further shocks across the eurozone and provide a coordinated impetus to its development. For this purpose, the Euro summit mandated the Eurogroup to detail the governance structure, implementation methods and the timeline for a budgetary instrument. However, given the meek response of Member States in terms of financing the budgetary instrument for convergence and competitiveness (BICC) through the EU budget, the Eurogroup composed a report on the possibilities in concluding an intergovernmental agreement to regulate top-ups to the modest basic BICC funded from the EU budget. This short Analysis will thus address the substan

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