Eurozone Leaders to Meet on Friday to Assess Economic Challenges

MOSCOW (Sputnik) - Leaders of 20 nations making up the Euro Area will gather in Brussels on Friday to discuss the tough economic situation, economic policy coordination and the future of European markets.

Eurogroup President Paschal Donohoe will preside over the regular meeting, held traditionally on the sidelines of a two-day EU summit.

Donohoe will again push for a revision of EU rules on government spending and taxes and raise measures needed to take forward the proposed Capital Market and Banking Unions after the sectors took a hit from the banking crisis earlier this year.

The European Commission's digital euro project will also be on the agenda. The digital coin, conceived by the EU as an alternative form of central bank money, was cleared by the European Central Bank for the experimentation phase last week. It is expected to take around three years.