European Parliamentary Elections Point to a Slow Integration in the Eurozone
if you are interested in it ,
Get free samples :sales@edabearings.com
The voting results of the 28 EU Member States seem to have made parliamentary power more decentralized, and the fight against climate change has become a focus since the EU Green Party became the fourth largest force in parliament.
"There was no mention of eurozone integration during the election campaign. It's not a problem, but climate change, immigration and social issues are -- and that's what politicians are concerned about, "said one euro zone official.
"Therefore, the integration plan that euro zone leaders will decide in June may be small and progress will be delayed," the official said.
Eurozone finance ministers have been discussing integration plans for a long time, including a budget specifically for 19 eurozone member states, and when and how to establish a eurozone-wide bank deposit guarantee scheme (EDIS).
** Slow progress**
But officials say that because there is no crisis on the political agenda to focus people's attention and other pressing issues, the euro budget is likely to be smaller, mainly to help invest, rather than to stabilize the economy under pressure, as many hope.
French President Mark Long is an advocate of a large-scale eurozone budget financed by special taxes, which can be used as a fiscal supplement to the ECB's monetary policy power.
But the Netherlands, Germany and several other northern European Union countries have opposed this and are pushing for the establishment of a small fund to support investment and integration of the euro zone economies.
Officials said the fact that Marklong's party ranked second in the European Union vote, behind the suspected "National Union" led by Europa Le Pen, would not make him stronger in the debate.
PREVIOUS:Fiat Chrysler confirmed merger with Renault NEXT:Successful defeat in the election of the European Parliament