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Image header Agence Europe
Europe Daily Bulletin No. 8052
Contents Publication in full By article 16 / 44
GENERAL NEWS / (eu) eu/eurogroup

Didier Reynders proposes economic to counterbalance ECB

Brussels, 20/09/2001 (Agence Europe) - In an interview in the German business magazine Capital on Thursday, Eurogroup President Didier Reynders suggests creating a "European economic government" in the long-term to counterbalance the European Central Bank (ECB). The Belgian Finance Minister suggests that Eurogroup retain its informal nature for another two or three years, but when the European Union expands to 25 or 27 countries, the informal Eurogroup structure would become unmanageable and hence, before new countries join the EU, it was important to think of creating an economic government that can counterbalance the ECB's monetary policy. He added that Belgium would be putting forward a new form of organisation for Eurogroup at the Laeken Summit in Brussels at the end of the year.

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