German Finance Minister calls for 'political union' in Europe

German Finance Minister Wolfgang Schaeuble today urged a move towards a political union in Europe as he was given an award for his efforts to steer the continent through its debt crisis.

The crisis must be used as a chance to strengthen Europe, including through a directly elected president of the EU’s top executive body, the European Commission, to give the bloc a face and more political weight, Mr Schaeuble said.