ECB’s Mersch calls for stricter convergence in eurozone
Executive board member says convergence should be more strongly enforced
Eurozone countries will only be able to share more sovereignty in economic and fiscal policy if the "convergence mechanisms" in the monetary union work better in the future, according to European Central Bank (ECB) board member Yves Mersch.
Mersch, speaking at a DZ Bank conference in Frankfurt, on July 14, warned those that "deviate" from the convergence process "must be stopped earlier and more firmly". This could pave the way for common standards and decisions in fiscal policy.
"A genuine
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