EU calls for deeper Eurozone integration

Posted by Christian J. Hadjipateras 06/12/2017 0 Comment(s) Economia Blog,

The European Commission is expected to call for even deeper Eurozone integration when they present a series of proposals later today. The aim is to make the 19 countries that already share the single currency more immune against any potential future economic crisis thus helping to unite the EU as a whole rather than just those using the Euro.

 

However, the plans have caused concern in eight non-euro countries, namely Sweden and some eastern European nations, that deeper integration would leave them with less say and less in funds in the future. In an effort to relieve any concerns, the EC says that building EU unity and increasing the democratic accountability of eurozone institutions. French President Emmanuel Macron, one of the most pro-EU heads of state, has called for creating a large eurozone budget of several hundred billion euros, a eurozone finance minister and a eurozone parliament.

 

Despite the EC’s attempts to implement the new changes, there still appears to be little appetite for further integration. The proposals are set to be discussed fully at the next EU summit next week where all member-states will be present except for the UK as the country is set to leave the bloc in 2019 following last year’s referendum. 

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