The EU executive is proposing a two-phase calendar to complete the architecture of the economic and monetary union. (Photo: Hannelore Foerster)
The European Commission presented on Wednesday (31 May) its proposal to “move forward” on eurozone integration with a treasury, a finance minister and several instruments to make the financial sector less vulnerable to crises.
The document, which is part of an ongoing reflection about the future of the EU, aims to “fill the gaps” in the single currency and to help the eurozone economies to converge.
“We cannot and should not wait for another crisis,” said commission vice president Valdis Dombrovskis, who admitted that “doubts remain about the full stability and safety of the system”. Continue reading
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