FXstreet.com (Barcelona) - The European Commission is pushing the Eurozone to take further steps into integration. Yesterday, Barroso suggested: “It is only a thumb sketch, yet, but Barroso presented building blocks to take the Eurozone towards a full economic union”, wrote ING Bank analyst Carsten Brzeski, pointing to a banking union with integrated financial supervision and single deposit guarantee scheme, and common Eurozone bonds.
Also, wanting to show flexibility, the EU Commission has given Spain one more year to bring the deficit back to 3% of GDP by 2014 on the condition of submitting a solid plan regarding the purpose. However, France is expected to have a deficit of 4.2% of GDP in 2013 and hasn’t been extending austerity. ING Bank analysts are questioning the Commission ability to impose its authority to France.
Also, wanting to show flexibility, the EU Commission has given Spain one more year to bring the deficit back to 3% of GDP by 2014 on the condition of submitting a solid plan regarding the purpose. However, France is expected to have a deficit of 4.2% of GDP in 2013 and hasn’t been extending austerity. ING Bank analysts are questioning the Commission ability to impose its authority to France.
