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

The document includes a proposal for a central budget for theeurozone.

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

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