German finance minister calls for deeper integration

10/16/2012 | Reuters · Xinhuanet.com (China)

Saying Europe "must now make bigger steps in the direction of a fiscal union," German Finance Minister Wolfgang Schaeuble is calling for a new "currency commissioner" with budget powers, as well as voting reforms in the European Parliament. The proposals, including veto power over national budgets, are likely to draw opposition from other governments. Separately, Greece managed to achieve a slightly lower interest rate in its latest auction of three-month treasury bills.

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Reuters · Xinhuanet.com (China)

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