The impulse to bolster the eurozone, sparked by Emmanuel Macron’s victory in France almost one year ago, is losing its vigour as political instability persists and a group of countries have solidified their opposition to bold changes.
The European Fiscal Board, the EU's finance watchdog, wants clearer rules and real sanctions to punish profligate member states and limit the European Commission’s discretion to interpret the Stability and Growth Pact.
Eur zone countries should consider clubbing together to borrow as well as paying into a central budget that could be used to help struggling countries, according to a report prepared by senior European officials ahead of the EU summit next week (18-19 October).
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