All EU Members Should Join Euro, Designated DIW Chief Tells FTD

Aug. 9 (Bloomberg) -- Marcel Fratzscher, nominated today to run Germany’s DIW economic institute, said all European Union member states should join the euro region, Financial Times Deutschland reported, citing an interview.

The euro zone needs a political, fiscal and banking union that enables it to withstand crises, he told the newspaper. Fratzscher, who heads a division at the European Central Bank, was unanimously nominated by DIW’s board, FTD said.

To contact the reporter on this story: Karin Matussek in Berlin at kmatussek@bloomberg.net

To contact the editor responsible for this story: Anthony Aarons at aaarons@Bloomberg.net.