About: fiscal union Archives

Emmanuel Macron and Sigmar Garbriel have called for greater fiscal and social harmonisation in the eurozone, saying other EU countries like Britain should be allowed to settle for a less integrated Union based on the single market.

Franco-German attempts to secure changes within the Eurozone without treaty changes threaten to undermine UK Prime Minister David Cameron’s EU reform efforts.

Eurozone countries have to find a way to deal with the high public debt built up during 2008-2012, and which puts European economies on divergent tracks, EU Economic and Monetary Affairs Commissioner Pierre Moscovici said on Wednesday (6 May).

Mark Carney, the Governor the Bank of England, has urged the eurozone to move towards fiscal union and end its hardline austerity policies in a bid to promote growth.