Wolfgang Schauble of the German Finance Ministry said, “We are working intensively for the creation of a Stability Union. That is what we want to secure through treaty changes, in which we propose that the budgets of member states must observe debt limits.”
The German Finance Minister said you can’t get an agreement among the twenty-seven member states. They are aiming for an agreement among seventeen instead. The big thing is that they must do it quickly. The markets won’t wait. He thinks the shortcut is additional protocol to the EU’s Lisbon Treaty.
He doesn’t care if small states like Luxembourg and Finland have expressed reservations. Euro Zone countries have to give up budget sovereignty.
The German Finance Minister said you can’t get an agreement among the twenty-seven member states. They are aiming for an agreement among seventeen instead. The big thing is that they must do it quickly. The markets won’t wait. He thinks the shortcut is additional protocol to the EU’s Lisbon Treaty.
He doesn’t care if small states like Luxembourg and Finland have expressed reservations. Euro Zone countries have to give up budget sovereignty.