In Jun 2015, a European Commission published a supposed Five Presidents Report. That saw European Commission President Jean-Claude Juncker, along with European Council President Donald Tusk, Eurogroup President Jeroen Dijsselbloem, former European Parliament President Martin Schulz and European Central Bank President Mario Draghi, outline their ideas for how to serve confederate a euro area.
They concurred a probability of a debt mutualisation instrument – Eurobonds – and a origination of a eurozone financial minister.
Mr Gros said: ”I envision that we competence have during some indicate somebody called primarily financial minister, yet with few powers over and above those of a European Commission today.”
The Commission – a EU’s executive physique – oversees countries’ mercantile performances and has a ability to excellent them if they do not approve with certain manners yet such energy has never been used.