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 © 2014 euronewsMore about:
- 1Israel announces it will seize 400 acres in West Bank
- 2At least 6 confirmed dead in Paris apartment blast
- 3Germany breaks political taboo by arming Kurds against Islamists in Iraq
- 4NATO: ‘Ready to deploy forces’ in response to all security challenges
- 5Seriously ill boy removed from UK hospital found in Spain
- 1UN peacekeepers’ “greatest escape” from Syrian rebels as they sleep
- 2Seriously ill boy removed from UK hospital found in Spain
- 3Japan sounds bluefin warning, calls for 50% catch cut
- 4EU leaders name Donald Tusk European Council president
- 5Russia hits back at Canada after sarcastic jibe over Ukraine crisis
- 1#ن: How an Arabic letter was reclaimed to support Iraq’s persecuted Christians | euronews, world news
- 2Ellen MacArthur: making waves on a journey to a circular economy | euronews, the global conversation
- 3Japan sounds bluefin warning, calls for 50% catch cut | euronews, world news
- 4Israel announces it will seize 400 acres in West Bank | euronews, world news
- 5China executes eight Muslims convicted of terrorism | euronews, world news
- 6Hoverbike on the horizon | euronews, hi-tech
- 7Putin T-Shirts flying off the shelves at Moscow megastore | euronews, world news
- 8Everything you need to know about the Ebola virus | euronews, world news
- 9Ukraine accuses Russian aid convoy of stealing factory equipment | euronews, world news
- 10Massive Swedish forest fire is declared a national emergency | euronews, world news
- 11EU leaders name Donald Tusk European Council president | euronews, world news
- 12Man, 27, fails in suicide bid after tigers reject chance to eat him | euronews, world news
- 13Risk of fresh ash cloud threatens European air travel | euronews, world news
- 14Canada sends hilarious barb to Russia over Ukraine ‘incursions’ | euronews, world news
- 15Iceland warns Europe’s airlines of possible volcanic eruption | euronews, world news
- 16Beyond the subconscious | euronews, futuris
- 17Bardarbunga volcano in Iceland continues to rumble | euronews, world news
- 18Poland wants compensation from the EU for Russian import ban | euronews, world news
- 19EU’s Russia sanctions doing more harm than good says Hungary’s PM Orban | euronews, world news
- 20Greek farmers suffer in economic war between Russia and EU | euronews, economy
Wires > News
- 00:27 CET Amid foreign crises, Obama takes solace in U.S. economic turnaround
- 23:54 CET Afghanistan expected to send defence minister to NATO summit
- 23:01 CET Detained Americans in North Korea seek U.S. help in American media…
- 22:13 CET Iran’s Zarif ‘quite optimistic’ of Iran nuclear agreement
- 21:46 CET Brazil’s Silva looks presidential, but not a shoo-in
- 21:34 CET Dutch name emerges for EU post amid doubt about his chances
- 20:44 CET U.N. to send team to investigate Islamic State crimes in Iraq
- 19:34 CET Syrian army, rebels fight on Golan where peacekeepers held