Spinelli's chicken

Checks but also solidarity

A special taskforce is working to draw a first draft of the Van Rompuy Report “Towards a genuine economic and monetary union”.

According to some pundits, the first draft to be discussed in the next European Council will propose the establishment of a EU Finance Minister. This might be an important achievement even though there is the risk that the new finance ministery will strengthen only the checks on national budgets.

We need to better check and control national budgets but we also need more European solidarity. We have to communalise a part of the huge stock of the EU debt by issuing eurobonds. In this regard Mrs Prodi and Quadro Curzio made a very interesting proposal arguing for the creation of Eu- Union bonds.

These bonds will be guaranteed by real assets from the governments. This proposal is a good starting point. Let s go!

Author :