EU proposes tighter supervision of eurozone members' budgets

The European Commission wants to supervise member states' Budgets as part of plans to prevent a repeat of the debt crisis.

Wed, 23 Nov, 2011 - 14:37

The European Commission wants to supervise member states' Budgets as part of plans to prevent a repeat of the debt crisis.

The Commission is also seeking the power to send inspectors in to treasuries and finance ministries around Europe, and has also issued a green paper on proposed 'Stability Bonds' or eurobonds - joint bonds to be issued by the 17 eurozone nations.

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