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Consensus struck on broad purpose of budget but questions over details remain
Dutch lead opposition to Emmanuel Macron’s ambition for extensive fund
Without an ECB to do the heavy lifting in the next crisis, real reform will be needed
The interests of the two countries and their leaders are diverging
Plan from finance minister Bruno Le Maire set to raise hackles in Berlin and The Hague
Threat underlines steep resistance to fund as June deadline looms
Purpose of budget unclear to some after ambitions have been revised down
Three worthwhile contributions from the past month
The FT is teaming up with 16 European news organisations to spark face-to-face discussions between readers who see the world differently
With Waltraud Schelkle and Ashoka Mody.
Calls for strengthening of Schengen, but eurozone reforms dropped to keep Germany onside
Eurozone markets’ dependence on German debt creates destabilising distortions
The single currency endures but significant adjustments are necessary
Let the ECB issue time deposits to satisfy demand for riskless security
Why it is economically and politically important to distinguish two separate concepts
Stronger tools are needed to ensure success in the event of a new crisis
Divisions across the continent mean odds are stacked against the French president’s reforms
French demand to strengthen single currency area accepted in less ambitious form
Rome and Berlin will seize on widening deficit but the French president has no choice
Agreement overhauls bloc’s crisis-fighting toolkit but leaves out sharper implements
Agreement to bolster banking union and sovereign bailout fund to protect bloc from future crises
Ministers meet to discuss four ways to prevent future meltdowns
German finance minister wants bloc to be more united in foreign policy
Dutch-led group resists grand French ambition — with tacit approval from Berlin
Bruno Le Maire says ‘club’ compromises EU ability to rival other global powers
