Livesquawk had the headline earlier (at 0512 London time): ECB's Draghi supports idea of European Finance Ministry - FAZ
- FAZ reports that ECB board member Benoît Coeuré spoke in favour of it Paris
Said a European Ministry of Finance:
- "could be responsible for preventing economic imbalances and fiscal imbalances and to manage crises in the euro area"
- It should "control" its own budget and representing the governments of the euro area in international economic and financial institutions
Coeuré says the proposal has the support of ECB head Draghi
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Such a proposal would be a long time coming to fruition. it would require changes to treaties ... and multiple European parliamentary approvals.
Good luck with that.
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FAZ is German newspaper Frankfurter Allgemeine Zeitung
