Comment: Smaghi calls for fiscal synchronisation

Writing in the Financial Times on September 8, Lorenzo Bini Smaghi, a member of the ECB's executive board, called on member states to improve the synchronisation of the their budgets in order to strengthen the economic governance of the Euro area.


His arguments follow recent calls by politicians in member states for improved dialogue in the Eurozone - thinly veiled demands to give them more say in monetary policy decisions.

Smaghi argued that the current system has ample

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