mr president the current financial crisis offers the opportunity to make clear headway in the process of european integration
i want to focus my intervention on the creation of a european common treasury for the eurozone countries
this would be a clear improvement of the institutional framework for european economic governance
i know that this is a very delicate issue for some countries but we will have to deal with it in the coming years
the european treasury would improve the coordination of the stimulus policies implemented by member states
the european treasury would also be able to issue eurobonds to finance the construction of european infrastructures
the eu needs its own resources in the context of future diminishing budgets in the eu member states
a european common treasury collecting some taxes at european level would allow the reduction of national transfers to the eu
without real autonomy in income there will not be real autonomy in expenditure
the creation of a european common treasury is a political decision
the sticking point in this discussion is the lack of political will or to be more precise the lack of political will on the part of germany
in the nineteen nineties germany had the political vision to push for the launching of the euro despite the difficulties faced with its reunification process
in my opinion germany should lead now and move towards a common european treasury
