European Parliament Committees Approve Report Allowing Romania To Join Future EMF

The Parliament’s budget and monetary/economic affairs committees approved the preliminary report regarding the fund, which would serve to protect EU member states from an eventual economic and financial crisis, according to a statement issued by Romanian MEP Siegfried Muresan.

The MEP, part of the European People’s Party group in the Parliament, was also the one who filed the amendment allowing for the participation of non-Eurozone countries who committed to the future adoption of the European currency to the fund.

“The establishment of a European Monetary Fund was initially proposed with the purpose of protecting Eurozone member states from a new economic and financial crisis, as was the case with Greece. From the moment this fund was launched into debate I clearly said that it must be open to non-Eurozone member states who have committed for the adoption of the single currency, as is the case of Romania,” Muresan said in the statement.

The preliminary report is the official stances held by the Parliament on the issue, and will also be formally adopted in the institution’s plenary.

Following this, the European Union’s Council of Ministers must reach an unanimous consensus on EMF’s legal framework, while taking the Parliament’s stance into account.