Dutch PM proposes commissioner overseeing eurozone budget deals

Dutch PM proposes commissioner overseeing eurozone budget deals
# 08 September 2011 02:00 (UTC +04:00)
Baku-APA. The Dutch Prime Minister Mark Rutte on Wednesday announced a proposal supporting a special commissioner to oversee whether eurozone countries’ abide by the joint budget agreement, APA reports quoting Xinhua.

"This commissioner will have more power to enforce the agreements on countries that have repeatedly violated them," said Rutte in the letter to the Dutch parliament.

Rutte also urged all eurozone members to keep "adequate supervision of their financial institutions and take measures to make their economies competitive," saying that the eurozone would otherwise have been "different now."

Dutch government wanted to adopt a hard-line policy in terms of fiscal discipline and economic policy within eurozone. According to Rutte, countries which fail to meet the agreements could lose their right to European Union (EU) subsidies as well as their vote regarding EU matters.

"If the eurozone in its present form wants to have a future as a stable currency union that can support the internal market and our prosperity, a radical change is needed by being persistent instead of mild to ensure stability," said Rutte.






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