Wolff, Guntram B., (2017), “What could a euro-area finance minister mean?”, Bruegel, 17 May
With the election of Emmanuel Macron as president of France, the idea of a euro-area treasury and finance minister is back in the limelight. The election programme of Emmanuel Macron calls for “a budget for the euro area voted by a euro-area parliament and executed by a euro-area finance minister” with the aim to “be able to invest much more than currently”.
This call is broad and needs to be filled with content. And unless there is a clearer articulation of what key issues such a project is trying to resolve, there will be little support for moves in that direction – as recent sceptical voices from Germany have already foreshadowed.