Northern EU states to minimise euro reform


Eight northern EU states have gone against France on euro reforms after the German coalition deal cleared the way for talks.

The EU should avoid “far-reaching transfers of competence to the European level” as it sought to “regain public trust” in the wake of the financial crisis, the finance ministers of Denmark, Estonia, Finland, Ireland, Latvia, Lithuania, the Netherlands, and Sweden said in a joint paper published on Monday (5 March).

“Decision making should remain firmly in the hands of member states,” on issues such as the use of the European Stability Mechanism (ESM), a bailout fund, or the creation of a European Monetary Fund (EMF) to handle future bailouts, they said.

They said the strength of the euro depended, above all, on “decisive actions at the national level” to comply with EU rules on debt and budgets, and that these national actions “should have priority over far-reaching proposals”..
Read more : EUobserver, 06.03.2018