International Diplomat Magazine

France urges Creation of Minister for Eurozone


France urges Creation of Minister for EurozoneFrench Finance Minister, Pierre Moscovici has called on for the creation of a “minister” who would “embody” the Eurozone and would be accountable to citizens. Speaking at a high-level symposium at the finance ministry, Moscovici said: “In the medium term, we must embody the Eurozone in a minister who must be able, in one way or another, to face up to the sanction of votes by citizens. The presidency of the Eurogroup (eurozone finance ministers) is a function which must evolve”.
He added that he favors the creation at the European parliament of a committee of members elected by citizens in the eurozone to play a real role of joint legislator in the drafting of economic policy for the eurozone, in a sort of counterweight to the Eurogroup. Moscovici said: “The current model works badly. It is not suitable. Our citizens do not understand it. It is too far away from the mechanisms of national control. We need more solidarity to reduce the heterogeneous nature of the eurozone”.