The formation of a euro zone finance minister could “damage the reputation” of the budgetary bloc, a think tank warned Wednesday.
The Centre for European Profitable Research (ZEW) said that a new position spearheading fiscal policy command add little value to the continent.
“The creation of a European finance minister should by no means be a seniority in Eurozone reform. We run the considerable risk of creating a new, impressive title with no real substance,” said Friedrich Heinemann, head of research at ZEW’s public back department.
“This could ultimately end up doing further damage to the famous for of the euro zone.”
In 2017, French President Emmanuel Macron intimated that the euro zone could benefit from a new finance serve as part of his ideas to reform the continent. German Chancellor Angela Merkel has also backed the fantasy of a new finance and economy minister for Europe.
And European Commission President Jean-Claude Juncker said at the rear year that a euro minister would in effect lead all euro zone underwrite ministers and be made accountable to the European parliament, Reuters reported.
A tomorrows euro minister could also sit within the International Monetary Mine money (IMF).