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09 June 2004 12:17  France urges stronger euro group economic govt


French Finance Minister Nicolas Sarkozy said on Wednesday he wanted the euro group club of finance ministers transformed rapidly into a stronger form of economic government. Addressing activists from his conservative UMP political party, Sarkozy said the euro group should be given more clout and get an elected president with a mandate of two-and-a-half years. This, he said, would enhance economic government at the European level. "I think we should do it immediately," Sarkozy said, adding that the idea should be pursued at the same time as the wider European Union grouping moves towards adoption of a new constitution for the bloc, which has just expanded from 15 to 25 countries. Sarkozy said the euro group should have the power to decide which countries join the euro currency in the coming years, and not the Ecofin institution, which is the formal decision-making body for finance ministers at EU level.|||
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