Eurozone crisis

Trichet pleads for a minister of finance

Published on 11 July 2011 at 11:11

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“Jean-Claude Trichet calls for a European finance ministry to shield the euro and advocates a confederation that will apply a common fiscal policy over the long term,” leads El Mundo. On July 10, at an annual Economic Forum in Aix-en-Provence, the ECB President called for a common tax policy with “a minister and a Federal Ministry.” “The difficulties in organising the second bailout in Greece continue to put in stark relief the urgency of strengthening the economic governance of the EU,” El Mundo writes. “The crisis of Europe affects far more than just Europe”, adds the newspaper, which believes the proposal of Trichet “should be heard out” since it would allow the public debt of the twenty-seven states to be unified and would “put an end” to attacks by speculators against the weaker economies in the eurozone.

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