Photo: Reuters
Eurozone finance ministers will meet Monday in Brussels, against the backdrop of a weak economy and increased political uncertainty after an election inconclusive in Italy, the group's third largest economy. Data released on Friday showed Eurozone unemployment at a record high and consumer demand in the doldrums, especially in France, the Eurozone’s second biggest economy. France can ask the EU to delay budget act one more year. EU Ministers will look at how the restructuring of Spain's struggling banks is progressing and discuss the criteria to apply next year when member states call on the new European Stability Mechanism to directly inject money into failing lenders. Latvia on Monday officially applied to join the Eurozone in 2014 and approved, become the bloc’s 18th member.