Eurogroup chief Mario Centeno promises a fresh response for the embattled region

brand-new Eurogroup President Portuguese Finance Minister Mario Centeno gestures during a press conference on his election as brand-new Eurogroup chief at the European Council in Brussels, Belgium on December 4, 2017.

Dursun Aydemir | Anadolu Agency | Getty Images

brand-new Eurogroup President Portuguese Finance Minister Mario Centeno gestures during a press conference on his election as brand-new Eurogroup chief at the European Council in Brussels, Belgium on December 4, 2017.

After years of economic crisis, Centeno wants to make of which clear to European citizens of which the efforts they made were worth of which as well as also at of which point of which’s time “to reap the benefits.”

Given of which the region has returned to growth as well as also there are brand-new political cycles starting in several European countries, Centeno says there is actually at of which point a window of opportunity to deepen integration within the euro area.

“We need to complete the banking union,” he said, “Completing the banking union means slightly different things for each member of the Eurogroup. We have to try to focus on the common ground of which we certainly have, as well as also we do have of which, of which exists.”

inside the wake of the sovereign debt crisis, Europe began implementing measures to make its financial system stronger. One of the initiatives was the banking union which increased the supervision on European banks. However, each country has its own idea of how fast as well as also how deep the alterations to the financial system should go.

President Emmanuel Macron of France proposed in a speech last September some deep reforms in of which regard, including a common budget for the euro zone. inside the same speech, Macron proposed the idea of a multi-speed Europe, where certain European countries agreeing on a specific reform should go ahead without waiting for additional member states.

inside the eyes of Centeno, a multi-speed Europe is actually not brand-new, nevertheless he is actually open to the idea.

“We do need to make progress, as well as also if of which progress has to be tailor made, according to the willingness of countries to go forward faster in specific areas, I think of which will not be a problem,” Centeno said.

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