|Roadmap to a ‘Fiscally’ United Europe
The presidents of 5 European institutions have published a report entitled ‘Completing Europe’s Economic and Monetary Union’, commissioned by leaders at the Euro Summit in October 2014. The report, written by the presidents of the European Council, the European Commission, the European Parliament, the Eurogroup and the European Central Bank, lays out a roadmap for further integration of the euro area.
ECB President Mario Draghi said. “We need a quantum leap in European integration”. The presidents also advocate eventually establishing a euro area treasury to jointly take decisions about certain elements of national budgets. In spring 2017, the EC will make specific proposals on how to pool sovereignty further.