Daily Management Review

Junker suggests introducing euro in all EU countries


09/14/2017


Speaking in the European Parliament with an annual message on the situation in the European Union, President of the European Commission announced the need to transform the administrative structures of the EU.



European Commission Chairman Jean-Claude Juncker proposed introducing a single European currency throughout the European Union. Speaking on September 13 in the European Parliament with an annual message on the state of affairs in the European Union, Juncker said that he considers it expedient to move to the euro of all EU countries without exception.

In his opinion, Eastern European members of the European Union, including countries with an unstable economy, such as Bulgaria and Romania, should also join the Eurozone. Same goes to Poland and Hungary, which are critical of the policy of European unity. Juncker proposed to allocate a separate item of expenditure for the expansion of the euro area. These funds, according to his concept, should strengthen the economy of the unstable EU states and facilitate their transition to a single European currency. Currently, the euro area includes 19 of the 28 countries of the European Union.

In addition, the chairman of the European Commission called for closer cooperation within the European Union. In his opinion, it is necessary to develop a strategy that will ensure the competitiveness of European industry. He also proposed to create a new structure that will monitor compliance with uniform standards in the labor markets of the EU countries. Juncker called for strengthening trade relations with EU partners and said that the EU intends to conclude trade agreements with Australia and New Zealand until 2019.

However, Jean-Claude Juncker does not support the radical pan-European reforms proposed by French President Emmanuel Macron. In contrast to Macron, who initiated the creation of the post of the Minister of Finance of the European Union with his own multi-billion dollar budget, Head of the European Commission does not see the need for expanding European administrative structures and changing European treaties.

As a compromise, Juncker considers an option in which the European Finance Minister will be charged with responsibilities of the European Commissioner for Economic Affairs, who is also the head of the Eurogroup. His tasks will also include full coordination of all EU funding instruments.

Speaking about the need to modernize the administrative structures of the EU, Junker proposed to establish the office of EU president, and the post of chairman of the European Commission to be combined with the post of the head of the European Union. According to him, these measures will increase the effectiveness of the European Union and make the EU's bureaucracy more transparent. Junker, whose powers of the head of the European Commission end in 2019. He separately stressed that he does not claim a new post.

source: dw.de






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