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.
- 1Chomsky says US is world’s biggest terrorist
- 2One of five suspects charged after Melbourne anti-terror raids
- 3Exclusive: choose between co-operation and confrontation, Iran’s Foreign Minister warns
- 4Foreigners flee xenophobic attacks in South Africa
- 5International lenders raise pressure on Greece as cash crunch looms
- 1euronews live TV - News | euronews : the latest international news as video on demand
- 2Chomsky – a rebel with a cause | euronews, world news
- 3Chomsky says US is world’s biggest terrorist | euronews, the global conversation
- 4[LIVE] Germanwings passenger jet crashes in southern France, 148 people on board – authorities | euronews, world news
- 5Europe is ‘bluffing’ over Greece-Russia relations – analyst | euronews, news
- 6French Alps plane crash treated as suicide and mass murder by co-pilot | euronews, world news
- 7Why is Bulgaria the EU’s most unhappy country? | euronews, world news
- 8eurovibes - a selection of Europe’s best music talent
- 9Former IMF chief ‘under investigation for money laundering’ | euronews, world news
- 10Greece’s claim for war reparations from Germany explained | euronews, world news
- 11International news | euronews, latest international news
- 12Pope Francis washes Rome prisoners’ feet on Holy Thursday | euronews, world news
- 13ECB chief Mario Draghi unhurt after protest during speech | euronews, world news
- 14International tv news | euronews: European and International tv news bulletin
- 15Reaching new heights: Parents in India scale walls to ‘help students cheat’ | euronews, world news
- 16Germanwings press conference mystery: what wasn’t he supposed to say? | euronews, world news
- 17French prosecutor: Germanwings co-pilot appears to have crashed plane deliberately | euronews, world news
- 18Woman carries can of water on her head along Paris marathon | euronews, world news
- 19[Live updates] France plane crash: damaged black box ‘can provide information’ | euronews, world news
- 20Fighting Boko Haram: Chad aims to ‘destroy’ militant group | euronews, world news
Wires > News
- 03:00 CET Mexico confirms capture of Gulf Cartel leader
- 02:23 CET Thousands in Germany protest against Europe-U.S. trade deal
- 22:27 CET Greece wants EU/IMF deal but impasse could bring referendum -…
- 20:12 CET Islamist group claims attack on U.N. peacekeepers in Mali
- 18:17 CET French customs seize record 2.25 tonnes of cocaine off Martinique
- 17:49 CET Zimbabwe’s Mugabe says bonuses for public workers to stay
- 17:46 CET U.S., allies target Islamic State with 20 air strikes in Iraq…
- 17:04 CET Russia denies German report it is ready to sign gas deal with…