Serhat TUNAR-TDO- European Union finance ministers, who came together to determine the Euro Zone budget in Luxembourg, reached a consensus on the budget after talks lasting about 12 hours. French Finance Minister Bruno Le Maire said in a statement on the issue, for the first time, an effective budget to increase competition between the countries of the Euro Area, he said. The budget agreed by finance ministers will also be discussed at the European Union leaders summit in Brussels next week.

There were different views of the Southern and Northern European countries on the subject of intense debate over the past six months. Southern European countries demanded more solidarity, while Northern European countries demanded stricter implementation of the rules.

Welcoming the agreement on the budget, Portuguese Eurogroup President Mario Centeno said earlier that caution should be exercised by stating that Brexit and commercial tension are already high.

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