Tag: Wolfgang Schäuble

The banking union is “an urgent necessity” for the eurozone according to Germany’s finance minister, but current plans are insufficient to ensure its long-term solidity, he writes in the Financial Times, calling for a “two-step approach” crowned by a change of the EU’s founding treaties.

European Central Bank Chief Mario Draghi backed a proposal by German Finance Minister Wolfgang Schäuble to radically expand the powers of the European Union's monetary affairs commissioner, giving Brussels greater control over member states budgets.

German Finance Minister Wolfgang Schäuble and U.S. counterpart Timothy Geithner said yesterday (30 July) they were confident the countries of the euro zone would implement reforms needed to overcome their sovereign debt crisis. Meanwhile, business confidence in the EU showed a serious decline in July.

German Finance Minister Wolfgang Schäuble used his acceptance speech when awarded the Charlemagne Prize to detail his future vision of the European Union, arguing for a directly-elected Commission president.

As Wolfgang Schäuble moves closer the Eurogroup's chair, people close to him say such an appointment would mark the crowning of his career for the German finance minister who is often referred to as the last true European in Angela Merkel's government.

Far-reaching financial governance reforms are needed to solve the debt crisis and that would likely require a new EU treaty, said German Finance Minister Wolfgang Schäuble in an interview with the daily Bild Zeitung.