EU eyes unity and growth

The European Commission yesterday proposed near-term improvements to the way the eurozone runs its economy as part of a broader plan to more deeply integrate the single currency area and avoid future crises.

The commission proposed to set up special institutions that would monitor how competitive their economies are and how quickly wages can grow.

The so-called Competitiveness Boards in each eurozone country would be independent and consider competitiveness in the broad sense, looking not only at cost, but also at productivity, skills, the business environment and innovation.