World Bulletin / News Desk
European Commission President Jean-Claude Juncker on Wednesday proposed that the EU create its own Europe-wide finance minister, a big step towards deeper integration of the eurozone.
"We need a European Minister of Economy and Finance," Juncker said in his annual State of the Union speech to the European Parliament in Strasbourg.
"I am not calling for a new position just for the sake of it. I am calling for efficiency," Juncker said.
He said the job would combine the role of EU commissioner and the head of the Eurogroup of eurozone finance ministers, currently presided by Dutch finance minister Jeroen Dijsselbloem.
Juncker added that he was "not fond of the idea of having a separate euro area parliament", another idea promoted by Macron.
He also insisted that the fight to ensure that multinationals pay a fair tax be strengthened, notably by making it easier to approve tax reforms.
On tax, "Europe has to be able to act quicker and more decisively," he said.
This would require that EU tax policy be approved by a majority of member states and not the existing requirement of unanimity among the EU's 28 member states, he said.
Juncker said that he would also propose that the eurozone's bailout fund, the European Stability Mechanism, become a full fledged European Monetary Fund.
This would be based on the model of the International Monetary Fund, the US-dominated crisis bank that took a major role in the eurozone debt crisis.
The attack targeted a meeting of ISIL leaders in the eastern Deir Ez Zour province
Official results of Iraq’s parliamentary election have been dogged by controversy and allegations of vote-rigging
Threat comes after EU announced 25 percent tariff on US products
Armed terrorists ‘neutralized’ in northern Iraqi region of Gara
Palestinians have been holding mass rallies near Gaza-Israel security fence since March 30
Police report states driver of car that killed pedestrian in Arizona was streaming television show
Decision follows Trump's pledge to end “war games” during Singapore summit
Conservative bill was widely expected to fail in the chamber
Washington urges Moscow to reign in ally amid offensive in de-escalation zone
‘Koko touched lives of millions as an icon for interspecies communication and empathy’, Gorilla Foundation says
Nato Secretary General Jens Stoltenberg says they will look into strengthening transatlantic bond in summit next month
Administration to no longer require immediate legal proceedings for undocumented adults who cross illegally with children
Trump administration makes request following backlash over its immigration policy
President says he will take ‘preemptive’ action to halt the actions that have drawn widespread criticism