European Central Bank chief Jean-Claude Trichet has called on European states to fuse together their budgetary processes in order to save the euro.
"We have got a monetary federation. We need quasi-budget federation as well," he told a meeting of the European Parliament's economic and monetary affairs committee on Tuesday (30 November).
At the time of the launch of the single currency, many sceptical analysts warned that monetary union without fiscal union would inevitably result ...
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