WIREDGOV

Brussels, 28 November 2012 – The European Commission yesterday adopted a Blueprint for a deep and genuine Economic and Monetary Union, which provides a vision for a strong and stable architecture in the financial, fiscal, economic and political domains.

Commenting on the Blueprint, José Manuel Barroso, President of the European Commission, said: "We need a deep and genuine Economic and Monetary Union in order to overcome the crisis of confidence that is hurting our economies and our citizens' livelihoods. We must give tangible proof of the willingness of Europeans to stick together and move forward decisively to strengthen the architecture in the financial, fiscal, economic and political domains that underpins the stability of the Euro and our Union as a whole."

In a deep and genuine EMU, all major economic and fiscal policy choices by Member States would be subject to deeper coordination, endorsement and surveillance at the European level. The Blueprint sets out the path to a deep and genuine EMU, which involves incremental measures taken over the short, medium and longer term. Part of the agenda can be delivered on the basis of the current Treaties, though part of it requires Treaty change.

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