Italy's economy minister Fabrizio Saccomanni called for European institutions to switch to majority voting from unanimity in order to implement economic reforms more efficiently.
"In a global economy, the protection of stability, the need… to fight recession at a region level, to fight unemployment, particularly among the young people…. needs to have a more efficient and more integrated approach," Saccomanni said in a speech in London on Monday.
"The only way to this is a very simple way: through majority voting. At present, most decisions in Europe are taken by unanimity, that means every country has veto power and that I think is not very conducive to efficiency".
Saccomanni added he sees a need for euro zone-wide sovereign bond issuances in the future as part of the currency bloc's integration process.
"I see the need sometime if this union has to evolve into a political union if not for the past at least for the future there will be a joint responsibility for the issuance of debt and the management of debt," he said.