European Commissioner for Economic and Financial Affairs
Pierre Moscovici said Friday he was confident eurozone countries would
pursue an ambitious restructuring of their currency union after upcoming
elections in France and Germany.
“It will be a window of opportunity that we must not miss,”
he said in an interview on the sidelines of the International Monetary
Fund’s spring meeting.
Though he acknowledged there is still no political consensus on whether to pursue such a course, he argued that the challenges the single currency faces will force policymakers to act.
“I’m confident that consciousness will come that it is of basic common interest that we have stronger tools for the eurozone,” Moscovici said, adding that he expected the Commission’s upcoming paper on the future of monetary union to be “ambitious.” “This debate is not over, it is starting.”
Though he acknowledged there is still no political consensus on whether to pursue such a course, he argued that the challenges the single currency faces will force policymakers to act.
“I’m confident that consciousness will come that it is of basic common interest that we have stronger tools for the eurozone,” Moscovici said, adding that he expected the Commission’s upcoming paper on the future of monetary union to be “ambitious.” “This debate is not over, it is starting.”
