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Nowotny: „Fiscal Union Still Far Away“
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Published: September 17, 2012; 17:56 ♦ (Vindobona)
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Ewald Nowotny, governor of OeNB (Austrain Central Bank) does not believe in a quick implementation of the fiscal union.
Nowotny: „Fiscal Union Still Far Away“ / Picture: © Wikipedia / Christian Wirth (Wirthi)
Regarding the fiscal union, Nowonty is rather pessimistic. “As convinced European I fear that we will not experience a real fiscal union.” For Nowotny, a common fiscal and economic policy would only be possible with a political union.
According to Nowotny, the European Central Bank acts in line with its competences. Even the basic structure of ESM would be “democratically…
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