German finance minister Wolfgang Schauble has stated that as soon as the May EP elections are over, the EU will need to begin discussions on treaty revision. For some time now, the eurozone has worked on strengthening its governance, but so far this has not had corresponding institutional implications. And a true economic and financial union needs true institutions, such as a permanent president of the Eurogroup or a eurozone parliamentary assembly, the federal finance minister said. The statement by Mr Schauble coincides with the British agenda of EU reform ahead of the 2015 general elections in the UK. Mr Schauble wrote an article together with the British finance minister George Osbourne for the Financial Times. In the article the two agree that further integration inside the eurozone should not be a disadvantage for those inside the EU whose currency is not the euro. The governance and recent integration efforts inside the eurozone need a sound legal basis and fairness for non-euro members of the EU needs to be assured, the ministers wrote.
19th June 2018