BRUSSELS: The European Commission unveiled plans for a fundamental overhaul of how the euro zone is structured on Wednesday, including the prospect of setting up a common budget for the single currency area and issuing joint debt in the years ahead.
In a five-page document dubbed a “blueprint” for creating a “deep and genuine” economic and monetary union, Commission President Jose Manuel Barroso acknowledged that the 17 countries in the euro zone needed to be allowed to integrate more deeply and at a faster rate than the rest of the 27-country bloc.
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