Spanish government hopes to be able to influence the eurozone

SPAIN wants to see an overhaul of the eurozone and has offered to lead the way.

The economy ministry has revealed that it has sent a proposal to the European Commission suggesting greater economic unification amongst the 19 members who have adopted the euro as their unit of currency.

The government appears united on this proposal, supporting the concepts put forward by recently elected French President Emmanuel Macron and has stated that the euro has been vulnerable to economic influences which led to a painful increase in unemployment in countries such as Spain.

Mariano Rajoy and his ministers want to see a new banking union, introduction of euro bonds, an anticrisis budget, and a common unemployment insurance scheme which would apply to all members of the eurozone.

The timing of this proposal is crucial as the EU will be shortly reviewing its policy concerning the euro which when implemented will be far reaching, certainly as far as 2025.

Spain believes that having worked its way out of the crisis it is ideally placed to lead the way forward.In addition to the proposed changes, it is also recommended that the EU increases its ability to oversee the actions of members to ensure that they are implementing sensible and workable policies in order to grow their economies.

Spain is promoting itself as the one economy in the zone that has managed to drag itself out of financial difficulty by the implementation of painful reform and is proud that it has recently become one of the most successful economies in the EU.