LUXEMBOURG (MNI) – Europe needs time for s profound debate on
deeper integration, and that process should not be rushed, Swedish
foreign minister Karl Bild said on Tuesday.
He noted that while the Eurozone’s debt crisis has “urgent short
term issues” that need to be dealt with, discussions on a roadmap for
deeper financial integration and banking union, by contrast, are “very
long term.”
Europe has a “democratic decision-making process that needs to be
respected,” Bild said. “Sometimes decisions have been taken too fast.”
EU foreign ministers are meeting in Luxembourg Tuesday to prepare
the discussion for EU leaders on a report outlining steps to deepen
financial and fiscal integration in the EU, including more
centralisation of powers at the European level. Political leaders hope
such steps will reassure markets that the Eurozone is addressing its
structural weaknesses.
EU leaders will discuss the ideas when they meet in Brussels this
Thursday and Friday.
–Brussels Newsroom, +324-952-28374; pkoh@marketnews.com
[TOPICS: M$X$$$,MGX$$$,M$$CR$]
