A LONG-AWAITED package of reforms to help European Union members join the single currency eurozone has finally been unveiled.
European Commission Vice President Valdis Dombrovskis, who also serves as the European Commissioner for the Euro and Social Dialogue, announced the measures for the completion of Europe's Economic and Monetary Union (EMU).
He said: “We are currently proposing how we can support the preparatory work and necessary reforms in those countries wishing to join euro zone.
"And by this we are showing that euro zone should be enlarging, and the commission is ready to assist those member states working on this to ensure that they can be prepared to join the eurozone and can prosper within the eurozone.
“The main idea is to make the eurozone stable and sustainable against potential future economic shocks.
“We must also restart the process of convergence within the European Union.
"We are starting a series of initiatives, such as creating a separate eurozone budget line within the European budget to ensure fiscal stability.”
Brussels wants to put special emphasis on reform as well as on deepening the bloc’s co-operation against a backdrop of Brexit and growing anti-EU sentiment across the continent.