Proposal Would Boost Eurozone’s Control over Finances (CNBC)

EU report includes provision requiring all eurozone members to agree to fiscal programs, timelines.

A European Union report includes a proposal that eurozone member nations make commitments to undertake fiscal reform, a measure that would increase Brussels’ power over countries’ fiscal policies, CNBC reports. Currently the EU requires such binding commitments from nations receiving bailouts.

The document includes a proposal for a central budget for the eurozone.

The European debt crisis and the strains it has placed on the common currency have led some European leaders to advocate more centralized decision making.


See the full story here.



Advertisement. Closing in 15 seconds.