European Union Disclosed Its Idea For Monetary Union Future

By Author: jim mccarry
Total Articles: 37
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Jose Manuel, President of European Commission said that it is a significant moment for Euro Zone. It is a 10 year plan which is formulated to provide strengths to euro zone & it will also help in preventing crises in future, but according to many experts this plan will not cover the current crises in the zone. In current week few markets fell very sharply because of fear that the leaders in coming European Union summit would definitely fail to agree urgent steps to stabiles the current crises period, which already resulted in few members to quit euro zone. The two most suffered members are Spain and Greece who is forced to quit zone, the former is negotiating the terms of 100 billion worth of loans for its banks & latter wants to ease the terms of huge bailout after the new government have formed.
Sir Mervyn King, Governor of the BOE expressed his concerns on the recent response of authorities in European Union. He said that he is a pessimistic & he is really concerned because it has been 2 years we are facing the crises problem and it is getting worse day by day. Herman Van Rompuy, president of European Council ...
... has released latest document with title “Towards a Genuine Economic & Monetary Union” which was forwarded to the presidents of European Commission, the Euro Group & European Central Bank. According to him it is not the final blueprint, but expects all to reach at a common understanding ahead at the EU Summit. According to Jose Manuel the good guiding principles are that where the greater responsibility & greater solidarity go hand in hand.
Need funds that too immediate apply with 12 month loans @ http://www.1monthloanuk.co.uk/12-month-loans.html and get desired fiscal aid with simple terms. The report included with the proposals, there would be a limit on the amount of debt a single country can avail, and the yearly national budget can be vetoed if the country exceeds its debt limits. Collectively borrowing money in euro zone could be explored. In order to control the central budget & keep watch on national budget a European treasury office will be set. There would be a single banking regulator & a common guarantee scheme for bank deposits. Policies will be common on levels of taxation & employment regulations. There would be joint decision making with national parliaments which will provide it democratic authenticity. There is also one big change which allows European treasury to force euro zone members to make changes to their respective budgets to keep their deficits below the set certain level.