On Wednesday, the EU commission released the “Reflection paper on deepening the economic and monetary union”.
Following the papers centered on social policies and globalization, the Commission reiterates its previous conclusion: Europe needs more integration. The authors take into consideration a Euro Area Treasury and the issuing of European safe assets, “a new financial instrument for the common issuance of debt, which would reinforce integration and financial stability“.

Fiscal integration and more democratic accountability of the EU financial institutions also consitute the pillars of this paper.

You can read the full document here.

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