France and Germany explore “two speed” eurozone

Core group of countries would pursue tax, fiscal integration

Some German and French officials are toying with the idea of a “two speed” eurozone where a core group of countries would pursue closely integrated tax and fiscal policies, Reuters reports. It would be a radical overhaul of the European Union, and a development that remains purely theoretical for now. Such a move would likely meet the opposition of many EU countries, whose backing is necessary for any amendments to the bloc’s treaties. Nonetheless, it is significant that the two EU heavyweights are willing to even entertain the idea.

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France and Germany explore “two speed” eurozone

  1. This is something that the UK has been suggesting for decades.

    • ? I’m surprised to hear this. The UK has always been among those putting the brakes on EU integration. Perhaps they’ve been suggesting it, in terms of “let others integrate, we’ll sit back and go slower/go separately.”

  2. Perhaps if France Germany/Benelux go ahead with this type of thing and prosper, they can set an example to the other Eurozone countries. If giving up their central banks and tax enforcement had been part of the conditions of Greece & Italy to join the Euro in the first place, these crises wouldn’t have been allowed to metastasize in the first place.

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