Completing Economic and Monetary Union 4: Political Union

In cep's view, greater involvement of the national parliaments in the adoption of the national Reform and Stability Programmes may facilitate their implementation in the respective Member States. The desired ex-ante coordination of the eurozone on "all positions" relating to IMF matters is in breach of EU law. It also harbours the risk that the coordinated positions will lack any clear assertions due to divergent interests. Creating a "Treasury" must not result in the German Bundestag losing its "control over fundamental budgetary decisions".