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Call To Create European Finance Ministry

Jean-Claude Trichet, president of the European Central Bank, has called for the creation of a European Finance Ministry to give the European Union greater authority to help keep the EU financially stable, reports Money Marketing.

Jean-Claude Trichet, president of the European Central Bank, has called for the creation of a European Finance Ministry to give the European Union greater authority to help keep the EU financially stable. Trichet said such an agency should have the power to rule on “major fiscal spending items” and to veto national economic decisions to deal with reckless member states.

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