Report: Spain Seeks Revamp of EU Financial Powers

May 27, 2015 1:42 PM

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A leading Spanish newspaper says the government is calling for an overhaul of the European Union's common economic policy and for the European Central Bank to play a greater role in avoiding future crises.

El Pais newspaper said Wednesday that Spain has sent European institutions an eight-page document urging greater labor mobility, increased fiscal union with a common budget for emergency situations, completion of the banking union and the future issuance of common euro bonds.

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