EU Commission: EMU Roadmap Should Be Adopted In 5-10 Years

LUXEMBOURG (MNI) – EU leaders should agree on a deadline of five to
ten years to achieve the most ambitious goals set out in the roadmap for
greater European economic, fiscal and political integration presented to
EU governments today by EU Council President Herman Van Rompuy, the EU’s
Commissioner for Inter-institutional Relations and Administration, Maros
Sefcovic, said on Tuesday.

Speaking after a meeting of EU foreign ministers tasked with
preparing the EU leaders’ summit this Thursday and Friday, Sefcovic
urged European governments to “start work immediately” on the aspects of
the vision that don’t require significant changes to EU law.

The European Commission will present proposals “for the completion
of a banking union” in the autumn, he said.

Van Rompuy today presented a report calling for a powerful EU
banking supervisor with the authority to intervene in failing banks and
for the creation of a common bank resolution and deposit guarantee fund,
backed by the European Stability Mechanism.

The report also called for joint debt issuance by Eurozone member
states to be backed by strict national debt limits, and for Eurozone
governments to be able to demand changes in national budgets.

–Brussels newsroom: +324-9522-8374; pkoh@marketnews.com

[TOPICS: M$$CR$,MGX$$$,M$X$$$,MT$$$$]

Comments are closed.

Top

© Copyright 2014 ForexLive™  |  Advertise With Us  |  Login To Comment  |  Sitemap

HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.

ADVISORY WARNING: FOREXLIVE™ provides references and links to selected blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the blogs or other sources of information. Clients and prospects are advised to carefully consider the opinions and analysis offered in the blogs or other information sources in the context of the client or prospect's individual analysis and decision making. None of the blogs or other sources of information is to be considered as constituting a track record. Past performance is no guarantee of future results and FOREXLIVE™ specifically advises clients and prospects to carefully review all claims and representations made by advisors, bloggers, money managers and system vendors before investing any funds or opening an account with any Forex dealer. Any news, opinions, research, data, or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. FOREXLIVE™ expressly disclaims any liability for any lost principal or profits without limitation which may arise directly or indirectly from the use of or reliance on such information. As with all such advisory services, past results are never a guarantee of future results.