Eurozone ministers reach compromise deal on reform package

Posted: Updated:
(AP Photo/Olivier Matthys). European Central Bank President Mario Draghi, front second right, and Portuguese Economy Minister Mario Centeno, center right, hold giant euro coins during a group photo of EU finance ministers in Brussels, Monday, Dec. 3, 2... (AP Photo/Olivier Matthys). European Central Bank President Mario Draghi, front second right, and Portuguese Economy Minister Mario Centeno, center right, hold giant euro coins during a group photo of EU finance ministers in Brussels, Monday, Dec. 3, 2...
(AP Photo/Olivier Matthys). Portuguese Economy Minister Mario Centeno rings a bell to signal the start of a round table meeting of EU finance ministers in Brussels, Monday, Dec. 3, 2018. (AP Photo/Olivier Matthys). Portuguese Economy Minister Mario Centeno rings a bell to signal the start of a round table meeting of EU finance ministers in Brussels, Monday, Dec. 3, 2018.
(AP Photo/Olivier Matthys). European Central Bank President Mario Draghi, hands a giant euro coin to a member of protocol after a group photo of EU finance ministers in Brussels, Monday, Dec. 3, 2018. The euro celebrates 20 years of being in use in Jan... (AP Photo/Olivier Matthys). European Central Bank President Mario Draghi, hands a giant euro coin to a member of protocol after a group photo of EU finance ministers in Brussels, Monday, Dec. 3, 2018. The euro celebrates 20 years of being in use in Jan...
(AP Photo/Olivier Matthys). Portuguese Economy Minister Mario Centeno rings a bell to signal the start of a round table meeting of EU finance ministers in Brussels, Monday, Dec. 3, 2018. (AP Photo/Olivier Matthys). Portuguese Economy Minister Mario Centeno rings a bell to signal the start of a round table meeting of EU finance ministers in Brussels, Monday, Dec. 3, 2018.

BRUSSELS (AP) - Eurozone finance ministers have agreed to strengthen the single currency bloc's defenses against any future financial crisis.

Eurogroup President Mario Centeno said early Tuesday that "after several months of intense negotiations and a very tough and long meeting we delivered a comprehensive plan to strengthen the euro."

Centeno said that new measures will be introduced to keep on top of any further financial crisis and to enhance debt sustainability. One proposal will see the bailout fund, the European Stability Mechanism, provide financial assistance in times of need.

The discussions among the 19 eurozone finance ministers pitted France against several northern European nations.

The plan now moves to next week's EU summit of government leaders.

Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

sorry to interrupt
your first 20 are free
Access to News 12 is free for Optimum, Comcast®, Spectrum Networks® and Service ElectricSM customers.
Please enjoy 20 complimentary views of articles, photos, and videos during the next 30 days.
you have reached your 20 view limit
Access to News 12 is free for Optimum, Comcast®, Spectrum Networks® and Service ElectricSM customers.
Please login or create an account to continue enjoying News12.
Our sign-up page is undergoing maintenance and is not currently available. However, you will be given direct access to news12.com while we complete our upgrade.
When we are back up and running you will be prompted at that time to complete your sign in. Until then, enjoy the local news, weather, traffic and more that's "as local as local news gets."