BRUSSELS (MNI) – The European Commission on Monday denied that EU
officials were working on a “secret master plan” to deepen economic and
financial integration in the European Union.
EU leaders last month asked the heads of the European Council, the
Commission, the Eurogroup and the European Central Bank to look into
ways to achieve economic integration among EU and Eurozone member
states. This continues to be the plan officials are working on, a
spokesman for the Commission told journalists at a regular briefing.
The main element of the plan, as previously announced, is a project
to create a European “banking union”, in which oversight of banks in
Europe would become more centralized and there would be a common EU-wide
deposit insurance scheme and framework for dealing with failed banks,
the spokesman said.
More details about the plan, which EU officials believe shows
European governments’ commitment to cement the Eurozone’s single
currency, will be unveiled by EU leaders after they meet in Brussels on
June 28 and 29.
–Brussels newsroom: +324-9522-8374; pkoh@marketnews.com
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