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Today at 15.00 GMT in Brussels, chaired by the head of the Eurogroup Jean-Claude The cadets will begin the meeting of EU finance ministers to discuss the summit, held June 28-29.
The agenda includes the following:
- Draft Memorandum of Understanding between the euro area and Spain on the issue of providing financial assistance to the banking sector in Spain, the ability to directly recapitalize Spanish banks
- Possibility of revising the terms of the salvation of Greece
- Preliminary report of the Troika on Cyprus
In addition, the government will continue to discuss on the possibility of creating a single oversight body within the EU, as well as empowering EFSF / ESM authority to purchase bonds on the secondary market. The negotiations promise to be difficult, because The Netherlands and Finland have opposed this idea.
France and Germany will also try to "smooth out the corners" on the issue of Eurobonds issue. During the meeting, Angela Merkel and Francois Hollande, which took place over the weekend, both parties pledged to strengthen friendly relations among nations and to continue to effectively combat the crisis.
Another organizational aspect will be the appointment of a new president and managing director of Eurogroup ESM.
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