Bloc Budget

Ambition on the Commission

Pierre Moscovici, the incoming European Commissioner for economic and financial affairs. Source: AP
Pierre Moscovici, the European Commissioner for economic and financial affairs.
  • Why it matters

    Why it matters

    The struggling euro zone needs investments and reforms or risks long term economic stagnation.

  • Facts

    Facts

    • Pierre Moscovici is the incoming European Union finance commissioner.
    • The former French finance minister did not pass the first round of hearings in the European Parliament.
    • The French government has announced that it will run a budget deficit of 4.3 percent in 2015.
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    Audio

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The new European Commission is pushing for a euro zone budget. That, at least, is the impression created by comments from the incoming commissioners who will be in charge of finance matters.

The idea of greater fiscal integration was brought up by both Pierre Moscovici, the commissioner designate for economic and finance affairs, and Vladis Dombrovskis, the new vice president of the commission with responsibility for the euro, in their written replies to the European Parliament following their confirmation hearings last week.

Members of the incoming commission, which is due to take office at the end of the month, faced tough hearings in the European Parliament. The legislative arm of the European Union has to approve the appointments by the incoming president, Jean-Claude Juncker.

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