The head of the Central Bank of France, Villeroy de Galo and his colleague from the Bundesbank (German Central Bank) Jens Weidmann has demanded reform of the Eurozone.
In a statement issued today by the publication Süddeutsche Zeitung, Weidmann and de Galo, addressed to the member countries of the EU has largely delegated its rights and powers at the European level, according to DW.
“A greater integration of the tempting method to restore confidence within the European space”, — say the bankers.
In their view, in the light of the General deterioration of the financial situation and the economic imbalances, Europe is “clearly” is at a crossroads. To overcome a crisis situation requires the establishment of a common Ministry of Finance, effective and less “fragmented” European administration, as well as a powerful political body that takes policy decisions.
“These new institutions would take care of restoring the balance between liability and control,” said the heads of Central Banks.
Earlier in the week in Paris to be held the meeting of Ministers of economy and Finance of France and Germany.
