Tags: EU | Europe | Fixing Euro

EU Proposes Ways to Shore up the Euro over Coming Decade

Wednesday, 31 May 2017 07:38 AM

BRUSSELS (AP) — The European Union's executive arm has come up with a series of ideas it thinks could shore up the euro currency in the coming decade.

In a "Reflection Paper on the Deepening of the Economic and Monetary Union," the European Commission said Wednesday there is a "growing awareness" that further steps are needed to complete the euro's financial architecture.

One suggestion is the creation of a "European safe asset" — a financial instrument for the common issuance of debt — between 2020 and 2025.

The paper is part of the EU's attempt to reinvigorate itself following Britain's vote to leave the bloc. French President Emmanuel Macron has expressed his desire to bolster the euro's resilience following years of crisis.

The Commission said "it is time to put pragmatism before dogma."

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The European Union's executive arm has come up with a series of ideas it thinks could shore up the euro currency in the coming decade.In a "Reflection Paper on the Deepening of the Economic and Monetary Union," the European Commission said Wednesday there is a "growing...
EU,Europe,Fixing Euro
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2017-38-31
Wednesday, 31 May 2017 07:38 AM
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