Finland’s demand for safeguards on loans to fellow euro members is stopping Portugal from taking a credit line to help exit its bailout, according to European Commissioner for Economic and Monetary Affairs Olli Rehn.
The first-ever popular campaign for European Commission president got under way with Jean-Claude Juncker, a former prime minister of Luxembourg, winning the nomination of Europe’s center-right parties.
Europe should drop its unanimous decision-making principle and shift to a system similar to the International Monetary Fund’s weighted votes, with an 80 percent majority required, Guy Verhofstadt, a former prime minister of Belgium, said according to La Tribune.
The European Union lacks a sufficient sense of urgency in tackling the underlying failings of economic and monetary union, as opposed to the immediate issue of Greece, according to Guy Verhofstadt, a member of the European Parliament and former Belgian prime minister, Les Echos reported.
Nov. 23 (Bloomberg) -- Guy Verhofstadt, member of the European Parliament and former prime minister of Belgium, discusses European Union budget negotiations. He speaks from Brussels with Maryam Nemazee on Bloomberg Television's "The Pulse." (Source: Bloomberg)