On Thursday, April 19, 2018, the Atlantic Council’s Global Business and Economics Program hosted Eurogroup President and Portuguese Finance Minister Mário Centeno, who delivered a speech on completing the European project. The event was hosted as part of the Global Business and Economics Program’s EuroGrowth initiative.
Ambassador Stuart Eizenstat, former United States Ambassador to the European Union (EU), opened the discussion by stressing the urgency of needed reforms in the EU, given that the current window of opportunity may not last much longer. Mr. Centeno then detailed the central aspects of such reforms, aimed at completing the Banking Union (BU) and deepening the Monetary Union. He discussed the creation of institutional dampeners against eventual shocks and risk-sharing and risk-reducing options for member states. He insisted on highlighting the benefits of deeper fiscal integration could provide, while at the same time warning against “too complex” fiscal rules currently in place.
Minister Centeno’s remarks were followed by a discussion moderated by Bart Oosterveld, Director of the Global Business and Economics Program Director. The discussion centered on rising anti-EU sentiment, Eurogroup programs in Greece, and US-EU relations.