Whoever takes on the chair of the eurozone group will play a major role in digging Europe out of the coronavirus economic downturn.
The head of Italy's ruling 5-Star Movement said on Saturday the government should not sign off on a reform of the euro zone's bailout fund until plans for a wider banking union became clearer.
We look back at Christine Lagarde's career trajectory from French Minister to IMF chief and the issues that follow her heading into her next role.
According to the preliminary Eurostat data Eurozone GDP grew 0.2% quarter-on-quarter in the April-June period, down from 0.4% in the previous three months.
The European Central Bank kept interest rates unchanged at the meeting in Frankfurt with the main refinancing rate remaining at zero and the deposit rate at minus 0.4%.
"As Commissioner Muscovi said the door is open for further evidence, for further information, potentially further measures, the ball is now in the Italian camp.”
Progress, but not big breakthrough. Trying to create a budget across the 19 economies of the eurozone is always a challenge.