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Schäuble demands EU economic government

The Local · 30 Mar 2010, 11:52

Published: 30 Mar 2010 11:52 GMT+02:00

In the wake of the EU’s conflicted response to Greece’s precarious fiscal situation that has pressured the euro, Schäuble said Europe must develop a political counterpart to monetary union.

“We need better instruments to enforce the stability pact,” he told this week’s edition of Die Zeit. “And we need greater coordination along the lines of an economic government – even if we don’t love this phase very much.”

He said he hoped both his conservative Christian Democrats and the German government would do more to champion the cause of European integration.

“It all comes back to more Europe, not less. Sometime I have the impression others could more actively explain what the common European advantages are,” he said.

The full integration of the EU’s eastern members was in the interest of Germany, as it would put the country’s formerly communist eastern half at the centre of a thriving continent, Schäuble said.

Story continues below…

“Europe won’t become a federal state like the Federal Republic of Germany,” he told the paper, referring to widespread German scepticism against handing over too much sovereignty to Brussels. “But I’m convinced politicians will be able to convey the concept of a federal Europe of states.”

The Local (news@thelocal.de)

Your comments about this article

00:06 March 31, 2010 by Logic Guy
Well, what European citizens really want is to gain from a huge, economic system, while at the same time maintain their individual identities. This could have actually been accomplished without each nation losing their own currency.

The EU's dispostion is quite similar to hamanity's in general.

There is a serious need for more intelligent people.

An economy that consists of several nations, a "Global Economy", can't possible succeed if there are no laws and rules that prevent one nation from destroying the entire system. Surely there are other people who know this?
06:42 March 31, 2010 by peschvogel
Before any German or EU politican "demands" a NWO or "Global Economy", they must committ a "shock" before doing so. Schauble doesnt have the balls to do such a thing. So, the Euro is set to fail...
14:29 April 2, 2010 by josepalacios
SO FINALLY NOT ANYMORE YEARS OF CRUEL. NASTY AND RACIST RESTRICTIONS LABOR MARKET TO EU-8... NOW WE ARE TALKING ABOUT MONTHS.... HEHEHEHE JUST A FEW MONTHS NO ANYMORE YEARS, SO GERMANY AUSTRIA AND SWITZERLAND HAVE TO CALL OPEN BARRIES TO EU-8.... AS SOON AS POSSIBLE......AND WELCOME TURKEY TO EU..... !! HEHEHEHE
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