forexsq - A new European currency commissioner proposed by Germany would allow for more effective economic coordination, a senior German official said on Wednesday on the eve of an EU summit that is expected to discuss the idea.
German Finance Minister Wolfgang Schaeuble has proposed that such a commissioner would be empowered to reject national budgets on his own initiative.
"If the European Commission is to receive a stronger role, then the question must be answered of how this can be done in a sensible, effective, rapid way. A possible answer to this is a currency commissioner with a high level of autonomy," the German official told reporters. forex