09 Mar.
The European Commission will seek fundamental reform of the management of economic policy in the eurozone, including the co-ordination of fiscal policy, as it draws up details of a future European Monetary Fund.
The proposed EMF will go beyond the creation of a pot of money that would bail out errant members of the eurozone, such as Greece.
The talks over the launch of such a fund will form part of a wider package of reforms that would enable Brussels to co-ordinate economic and fiscal policy among eurozone states.
The Commission will deliver a proposal “over the next two to three months. It wants preventive as well as corrective measures to pre-empt the disastrous accumulation of public debt by a member state, as well as to build an institution that might co-ordinate remedial action, such as a bailout.
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09 Mar.
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