Euro Zone: central bankers calling Euro Treasury – FAZ – Frankfurter Allgemeine Zeitung

the heads of the central banks of Germany and France require the conversion of the euro zone.

the central bank governors of France and Germany calling for reform of the euro zone. Francois Villeroy de Galhau and Jens Weidmann plead in a joint commentary for the “Süddeutsche Zeitung” that the euro countries transferred to a considerable degree of sovereignty and powers to the European level. “Greater integration seems to be the obvious way to restore confidence in the euro area,” write the money politicians.

For this purpose, they call for the creation of a joint Treasury building an efficient and less fragmented European administration and the formation of a stronger political body that meets policy decisions and be subject to parliamentary scrutiny.

“These new institutions could ensure to restore the balance between accountability and control,” write the central bankers. Given the deterioration of public finances and economic imbalances stand Europe at a crossroads.

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