Peer Review of Fiscal Policies EU Commission Plans Closer Oversight of National Budgets

The EU executive has unveiled plans to increase oversight of member states' finances, including a proposal for budgets to be peer reviewed. The plans for strengthened fiscal co-operation, which have already been questioned by the Swedish prime minister, are likely to be challenged by major EU powers such as France and Germany, as well as the largely euroskeptic new British government.
EU Commissioner for Economic Affairs Olli Rehn in Brussels on Wednesday.

EU Commissioner for Economic Affairs Olli Rehn in Brussels on Wednesday.

Foto: Geert Vanden Wijngaert/ AP
smd - with wire reports