Flags of the EU member states fly near a statue holding the euro sign in front of the European Parliament in Brussels.(GEORGES GOBET/AFP/GettyImages))
Flags of the EU member states fly near a statue holding the euro sign in front of the European Parliament in Brussels.
(GEORGES GOBET/AFP/GettyImages))

Eurozone to Get Its Own Budget

October 13, 2012  •  From theTrumpet.com
The eurozone prepares a practical step toward becoming a superstate.
 

Eurozone nations could gain their own budget, separate from the European Union’s budget, under draft proposals published October 8 and supported by key member states. These proposals would put the eurozone on the path to developing a common taxation and spending policy and common treasure. It is a practical step toward becoming a superstate.

Reuters writes: “The fund could be used to help a country such as Spain, which has unemployment of 25 percent and is struggling to reinvigorate growth. In exchange for budget rigor, the pan-eurozone fund could provide targeted assistance.”

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