Eurogroup President Mario Centeno anticipated a "very important debate for European integration" at today's meeting in which decisions will be taken to reform the eurozone to be presented to European leaders at the euro summit.
Speaking to journalists at the entrance to the Eurozone finance ministers' forum in Brussels, the Eurogroup president predicted a "long but highly participated meeting", which will address "all issues" that have come to occupy the work schedule in the last year.
"It's a very important debate for the European construction. We will take decisions on strengthening the European Stability Mechanism as a crisis prevention and management mechanism, on banking union and bank resolution system to make it more credible, and we will discuss issues that have to do with debt sustainability in Europe, which is a very important issue for the resilience of the euro area economy, and the opportunities to create a budget for the euro area, "he said.
Mario Centeno explained that the meeting, which was seen as decisive in pushing ahead with work to complete the reform of the euro zone, will be the time to prepare a report to be presented to European leaders at the next summit scheduled for 14 December.
The debate on the opinions of the European Commission on the budgetary plans of the different countries of the single currency area, including the question of the Italian budget, 'by Brussels.
"There is a dialogue going on between the Commission and the Italian government. That is the way it has been, this is how it should be on all occasions when differences in relation to the Stability and Growth Pact have taken place. Let us listen to everyone's opinion around the table and hope that what the Commission's opinion is and what the reaction of the Italian authorities may bring in the future is a compliance situation for Italy, "he said, refusing to respond to the questions from Portuguese journalists.
On November 22, the community executive 'hit' Italy's fiscal plan for 2019 and recommended opening an excessive debt-deficit procedure.