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EU Official: Eurozone budget should be around EUR 17 bln

Reuters reports a European Union (EU) official, as saying that the Eurozone budget can get external financing sources if governments agree that in an intergovernmental agreement (IGA).

The official said that the Eurozone budget should be around EUR 17 bln.

Additional Quotes:

Eurozone ministers agreed that 80% of the Eurozone budget will be allocated based on population and inverse GDP per capita.

Eurozone agreed that national co-financing for projects funded by Eurozone budget would

The National co-financing rate may be reduced to half in severe economic circumstances defined in EU budget rules.

The EUR/USD remains unfazed by the above comments around 1.0990, as the immediate focus now remains on the reported ECB split on the QE restart that will be seen in Thursday’s ECB minutes released.

France Industrial Output (MoM) registered at -0.9%, below expectations (0.3%) in August

France Industrial Output (MoM) registered at -0.9%, below expectations (0.3%) in August
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