The outgoing president of the European Central Bank (ECB) has called on euro countries to commit to further integration – in what's a controversial and dividing topic among the 19 nations.
has called on euro countries to commit to further integration – in what's a controversial and dividing topic among the 19 nations.over the weekend, ECB President Mario Draghi said "what matters is to make the union stronger" and "in some areas, further integration achieves that goal."
While some countries argue that they need to share more when it comes to fiscal policy, other capitals are reluctant to delegate more power to European institutions, fearing to lose control over their economies or having to finance high-indebted nations. Led by the French delegation, European finance ministers agreed to create a common euro zone budget earlier this year. However, details of how it will be financed and how big it will be have yet to be agreed upon. Nonetheless, the compromise that has been achieved between the 19 capitals is far less ambitious than the original proposal from President Macron.
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