ECB bulletin article criticises EU fiscal arrangements
Eurozone needs single treasury, ECB article says
An article published by the European Central Bank (ECB) has criticised the eurozone's current fiscal arrangements as "vague" and called for significant further reforms.
The article said the European Union should create a common treasury for the eurozone, and change European treaties to do so. It was published on June 16 in the ECB's latest economic bulletin.
A European Fiscal Board will be operational for the eurozone from September 2016, the article said, following a European Commission
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