Berlin and London play hardball in shaping vision for the EMU

The future of the Eurozone and the debate around further integration were discussed at an informal meeting of the finance ministers in Luxembourg, on 12 September 2015.

While several rules and mechanisms to protect the integrity of the Euro area were created in reaction to the economic and financial crisis hitting Europe since 2008, some ministers felt further convergence was needed. Future integration could include not only economic and monetary policies, but also growth, employment and welfare.

However some other countries, like Germany and the United Kingdom, showed their doubts about going ahead with further integration and risk sharing.

• Primary Source

ESO: Background information: Hollande calls for vanguard of states to lead strengthened eurozone http://www.europeansources.info/record/hollande-calls-for-vanguard-of-states-to-lead-strengthened-eurozone/

ESO: Background information: Parliament reaches for a euro role http://www.europeansources.info/record/parliament-reaches-for-a-euro-role/

Politico, 12.09.15: Germany cracks financial whip again http://www.politico.eu/article/germany-cracks-financial-whip-again-finance-schauble-eu/

Luxembourg: EU Presidency: Informal Meeting of Ministers of Economic and Financial Affairs, 11-12 September 2015 http://www.eu2015lu.eu/en/agenda/2015/09/11-12-info-ecofin/index.html

EurActiv, 16.09.15: [Opinion] The Five Presidents' Report: Now is the time for debate http://www.euractiv.com/sections/euro-finance/after-five-presidents-report-now-time-debate-317668

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