ECB’s Trichet says eurozone needs budgetary federation to watch over government finances
Updated: 2010-05-31 16:45:51
Trichet sees need for ‘budgetary federation’
PARIS — European Central Bank President Jean-Claude Trichet says Europe needs “the equivalent of a budgetary federation” as a watchdog over eurozone governments’ public finances as a response to the continent’s government debt crisis.
In an interview published Monday in the French daily Le Monde, Trichet said that existing European treaties .... Read the original article ECB’s Trichet says eurozone needs budgetary federation to watch over government finances.

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Spain presses for labor market reform deal
MADRID — Spain’s Socialist government warned Monday it will impose labor market reforms if unions and management fail to agree on changes needed for Spain to resurrect its economy — and reassure markets worried about the country’s ability to show growth and pay off .... Original source Spain warns it will impose labor market reforms if unions, businesses fail to reach agreement.