EU leaders to discuss creating a budget for eurozone

EU leaders to discuss creating a budget for eurozone
European Central Bank President Mario Draghi, right, speaks with French President Emmanuel Macron during a round table meeting at an EU summit in Brussels, Friday, June 21, 2019. EU leaders conclude a two-day summit on Friday in which they will discuss the euro-area. (Stephanie Lecocq, Pool Photo via AP)

BRUSSELS (AP) — European Union leaders are gathering to discuss creating a budget for the 19 member states that use the euro, a move that could help stabilize the economy and strengthen the currency.

The reform championed by French president Emmanuel Macron was discussed last week by EU finance ministers, who agreed on the principles of a spending package for the 19-country eurozone.

But amid resistance from the Netherlands, they did not decide how the budget — which will be part of the overall EU budget — will be funded and or big it will be.

France said last week’s deal was just a first step and wants the new tool to be quickly implemented.