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Single currency – Juncker for the introduction of the euro everywhere in the EU News

Wednesday, September 13th, 2017 | Economy

This is how all EU countries should accept the euro and join the Schengen zone without border controls, as EU diplomats said before Junckers principle speech in the Europaparlament on Wednesday. In addition, the EU should continue to grow: by 2025 it could have around 30 members.
Shortly before the Bundestag election, Juncker makes proposals that could trigger considerable disputes. The desired expansion of the Eurozone means that EU-critical countries like Hungary or Poland should introduce the single currency. It should also apply in poor EU countries like Romania or Bulgaria.
In addition, Juncker faces much more far-reaching reform concepts, such as the French President Emmanuel Macron wants. On the other hand, Juncker Chancellor Angela Merkel, who is skeptical about a far-reaching reconstruction of the community, comes to meet.
Juncker's speech on the situation of the Union in Strasbourg's Europaparlament was eagerly awaited. After the decision of the British to leave the EU, he had launched a reform debate and presented five scenarios for the EU of the future in March. However, according to the EU diplomats, Juncker does not want any new structures or changes to the European treaties – unlike Macron, which requires a Euro finance minister with his own billions budget.
As a compromise, Juncker wants a Vice President of the Commission to become full-time head of the Eurogroup – a kind of "Mr. Euro" without a new apparatus. The EU budget is intended to provide a separate title for the Eurozone. From this, Juncker wants to finance, among other things, aid for EU countries like Romania or Bulgaria to make them fit for the euro. Currently, 19 of the 28 EU countries have the Community currency. Some others do not create the economic hurdles or do not want to take over the euro.
For the next few months, Juncker is planning some concrete initiatives, independent of the reform bill. Negotiations on free trade agreements with Australia and New Zealand are to be started. A new audit mechanism is expected to aggravate any unwanted adoption of sensitive commercial enterprises or infrastructure by Chinese state groups. There are also plans for counter-attacks against cyber attacks, an initiative on data exchange, and a strategy to strengthen and digitize European industry.


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