Economics
ECB Calls for ‘More Ambitious’ Reform of Economic Surveillance
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The European Central Bank said European Commission proposals to strengthen economic and budgetary discipline are not far-reaching enough to help restore confidence in the 17-nation currency region.
“A more ambitious governance structure must be foreseen, to ensure the smooth functioning” of the monetary union, the Frankfurt-based ECB said in a statement today. Member states must “take advantage of the ongoing legislative process to strengthen the economic governance package to the maximum allowed under the current treaties.”