Publication

The notion of a financial facility designed to help eurozone member states was initially perceived as a side topic and a bargaining chip during the negotiations on the Multiannual Financial Framework 2014–2020 (MFF). But it is quickly taking shape, as demonstrated by President Barroso’s blueprint from November 2012 on deepening the economic and monetary union and by Van Rompuy’s report from December 2012. The proposals highlight the necessity of inter-country transfer mechanisms within the more intensely integrated eurozone to tackle asymmetric shocks. Poland's government should assess the long-term impact this facility would have on cohesion policy.