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Commissioners Dombrovskis, Oettinger and Moscovici presented the eurozone's overhaul (Photo: European Commission)

Commission wants more centralised eurozone by 2019

The European Commission unveiled on Wednesday (6 December) a plan that would give it more power over the eurozone, while strengthening the links with non-euro member states.

As expected, the EU executive proposed to transform the European Stability Mechanism (ESM), the eurozone's emergency fund, into a European Monetary Fund by mid-2019.

The fund would still be responsible for the financial support of countries in need, with a l...

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