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Euro Zone Discusses Creation of Fiscal Union

Written: 2012-09-26 13:23:22Updated: 2012-09-26 17:00:13

Euro Zone Discusses Creation of Fiscal Union

Euro zone countries have reportedly begun discussions on creating a centralized budget and a limited fiscal union as solutions to resolve the currency zone’s economic crisis.

The Wall Street Journal reports that financial officials from European Union member countries began the fiscal union debate in Brussels last week.

Germany is said to have indicated its support for limited fiscal transitions from strong economies to debt-ridden countries in the region, marking a shift from its opposition to the idea of issuing euro bonds.

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