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France's Hollande proposes creation of euro-zone government
By Angeline Benoit
Bloomberg News
Sunday, July 19, 2015
French President Francois Hollande said that the 19 countries using the euro need their own government complete with a budget and parliament to cooperate better and overcome the Greek crisis.
"Circumstances are leading us to accelerate," Hollande said in an opinion piece published by the Journal du Dimanche on Sunday. "What threatens us is not too much Europe but a lack of it."
While the euro zone has a common currency, fiscal and economic policies remain mostly in the hands of each member state. European Central Bank President Mario Draghi made a plea this week for deeper cooperation between the euro members after political squabbles over Greece almost led to a rupture in the single currency.
Countries in favor of more integration should move ahead, forming an "avant-garde," Hollande said. ...
... For the remainder of the report:
http://www.bloomberg.com/news/articles/2015-07-19/france-s-hollande-prop...
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