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'We Need Fiscal Union': EU Commissioner Almunia
Greater fiscal and political union is needed in Europe, and will be discussed by euro zone leaders within months, Joaquin Almunia, EU Competition Commissioner, told CNBC Saturday. "This is one moment where we need greater integration. We need to learn from history to look forward with ambition," said Almunia, speaking on the fringes of the Ambrosetti Forum, at the Villa d'Este on the shores of Lake Como. "We need fiscal union," he added. He said that European people "would understand" that greater union was needed, but that their political leaders needed to explain the situation to them. "What we learned during 10 ... (full story)
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