GERMANY has been blasted over plans to use Brexit to further the creation of a European Monetary Fund (EMF) which have been branded a “poisonous gift for European democracy”.

Outgoing finance minister Wolfgang Schauble presented a “non-paper” at his final meeting of the Eurogroup economies in which he laid out Berlin’s vision for the future of the eurozone.

It includes handing more powers to the current European Stability Mechanism (ESM) – a bailout fund used in times of emergency – which could eventually morph into a full euro budget.

But the plans fall well short of the kind of federalist dream envisaged by French president Emmanuel Macron, who wants a complete eurozone treasury and finance minister to be created.

The proposals put forward by Mr Schauble, who is being shunted out of the treasury following Angela Merkel’s below-par election result, are also unlikely to please many Southern European states.

Interesting Read…

See Also:

(1) Eastern Europe DESTROYS EU integration plan: Nations SPLIT ‘will lead to EU BREAK UP’

(2) Macron can do NOTHING! Catalan MEP blasts French threat to punish an independent Catalonia

(3) Macron’s superstate plan for common EU taxes will DESTROY the bloc, leading eurocrat warns

(4) ‘We don’t want Macron’s budget’ German MEP says French leader’s plan will FRACTURE the EU

(5) Viktor Orban reveals ‘mission’ as Hungary and Romania team up to block migrant route

(6) Catalonia referendum: Spain’s government issues veiled DEATH THREAT to Catalan leader

(7) Who needs EU? UK creating Brexit deal with world’s LARGEST bloc ahead of Brussels deadlock

(8) Eurozone banks set for rate SHOCKS after sudden lending freeze tightening, says ECB

(9) ‘Make way’ House of Commons erupts in hysterics as Corbyn calls for Labour to lead Brexit

(10) Germany set to steal MASSIVE US business deal from Spain to connect LA to San Francisco


(Visited 44 times, 1 visits today)