EU Institutions Working On A Secret Master Plan For A "New Europe"

At the informal EU meeting on May 23, a work order for designing a "road map" for a "new Europe" had been submitted to the President of the EU Council Herman Van Rompuy, the President of the Eurogroup Jean-Claude Juncker, the President of the European Commission Jose Manuel Barroso, and the President of the European Central Bank Mario Draghi, Welt am Sonntag reported.

The essence for this road map calls for the 4 EU institutions to develop a master plan behind the scenes for a new stable Europe. According to the report, 3 or 4 rounds of conversations have been already planned in the coming weeks as Van Rompuy is expected to present the key elements of the plan at the EU meeting in late June. By the end of the year, the EU Heads of States and Governments should ultimately decide on this "revolutionary" plan.

The proposals for the this plan are said to be focused on 4 main areas so far: structural reforms, a banking union, a fiscal union, and a political union. To gain a sufficient traction for these actions, they will be sold under a growth friendly umbrella rather than as austerity related measures, according to the report.

Copyright © 2017 eFXplus™