German Chancellor Angela Merkel called on fellow European leaders on Wednesday to agree an ambitious, concrete plan for closer fiscal and economic integration next month that can then be put in place over the next two to three years.
In a speech to the European Parliament in Brussels, Merkel said the crisis-hit currency bloc could only win back confidence by pressing ahead with economic reforms and laying out a roadmap for deeper unity.
“I will work to ensure that we agree an ambitious roadmap in December for renewing our economic and monetary union,” Merkel said. “It should include concrete measures that we can implement over the coming two to three years.”
EU leaders are due to meet in mid-December to discuss changes to the rules governing their common currency, including closer coordination of economic policies.
Merkel set out four elements in her speech, including harmonising financial market regulation, closer fiscal and
economic policy integration, and steps to ensure greater democratic legitimacy for decisions taken at the European level.
She reiterated her support for giving European institutions new rights to intervene in national budgets when they violated EU rules. She also spoke of the need for closer coordination of labour and tax policies, while making clear that the sovereignty of member states in these areas must be respected.
Despite her push for a “deeper” union, Merkel made clear that she did not want a two-speed Europe, dividing members of the currency bloc from those EU members which do not use the euro.
After her appearance in Brussels, Merkel is due to travel to London to meet with British Prime Minister David Cameron amid a standoff over the EU’s medium-term budget. Under pressure from euro-sceptics in his party, Cameron is gradually pulling away from Europe to the irritation of EU states including Germany.
Copyright © 2015 euronewsMore about:
- 1USA: Los Angeles police shoot homeless man dead
- 2Memorial march: “My hope for Russia has died with the death of Boris Nemtsov”
- 3EU call for unity as Spain and Portugal enter war of words with Greece
- 4Estonia votes in election amid concerns over Russia
- 5Skydiver has lucky escape after seizure at 9,000 feet
- 1euronews live TV - News | euronews : the latest international news as video on demand
- 2Exclusive: CIA and Mossad are behind Boko Haram and ISIL, says Sudan president | euronews, world news
- 3eurovibes - a selection of Europe’s best music talent
- 4English and Spanish among happiest languages | euronews, world news
- 5Greek debt: who will pay if Greece fails? | euronews, world news
- 6Tens of thousands march in Moscow in memory of Boris Nemtsov | euronews, world news
- 7International news | euronews, latest international news
- 8Exclusive: Tsipras promises meritocracy, transparency for Greece, urges Europe to put people first | euronews, world news
- 9Watch: Ukraine MPs in fierce fist fight outside parliament | euronews, world news
- 10Dramatic dashcam video captures Taiwan plane crash | euronews, world news
- 11Data ‘mocks’ claims migrants try for Europe ‘expecting’ sea rescue | euronews, world news
- 12European Union News | euronews: latest breaking news and headlines about European Union
- 13Kosovo emptying out, hopes for independent future exhausted | euronews, world news
- 14‘Blue’ dress causes internet confusion. Is it white and gold? | euronews, world news
- 15Live updates: follow the 2015 Oscars ceremony | euronews, world news
- 16euronews apps : iPhone, iPad, Android, Windows Phone 8, Windows 8, Nokia S40, Nokia Asha, Smart TV and Google Glass
- 17Implanted RFID chip controls office access for Stockholm workers | euronews, hi-tech
- 18Barack Obama’s silly Buzzfeed video goes viral | euronews, world news
- 19Elastic road surface reduces motorway noise pollution | euronews, futuris
- 20Canada: Valentine’s Day mass shooting plot foiled say police | euronews, world news
Wires > News
- 19:42 CET Israel’s Netanyahu warns Obama against Iran nuclear deal
- 19:33 CET Obama, European leaders to discuss Ukraine, global security
- 19:06 CET Ex-CIA chief Petraeus to plead guilty in affair-related case
- 18:58 CET Three dead as Kiev accuses Ukraine rebels of shelling
- 18:44 CET Activist writer’s trial tests freedom of expression in Italy
- 18:37 CET Pope approves legal framework for financial reform
- 18:27 CET Syrian rebels reject U.N. envoy’s ceasefire plan
- 18:10 CET U.S. envoy to Yemen to work from Jeddah after embassy’s closure