European Central Bank President Mario Draghi has urged European leaders to clarify their vision for the euro, saying the ECB cannot fill the policy vacuum.
Draghi told the European Parliament the bloc should act quickly to bring an end to the eurozone debt crisis or risk disaster.
He said: “The next step for our leaders is to clarify what is the vision for a certain number of years from now. I think the sooner this has been specified, the better it is. The next question is how do we substantiate this greater clarity? I think that one first step we could take is.. a banking union.”
In his sharpest criticism yet of eurozone leaders’ handling of the crisis, Draghi urged they spell out detailed plans for the euro and fiscal cooperation, something he believes will require governments to surrender some of their sovereignty to succeed.
Read more: Draghi: ‘EU must clarify euro vision’ | euronews, economy
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