European Fiscal Union

By Guntram B. Wolff *

By Giselda Vagnoni & Francesco Guarascio

BRUSSELS/ROME - European leaders will consider calls for an interpretation of EU budget rules that gives more emphasis to economic growth, according to the draft of a document being circulated before a summit in Brussels this week.

Lithuania passed a key hurdle to adopting the euro on Wednesday, winning the backing of the European Commission to become the 19th state to use the single currency from next year.
     
The European Union's executive praised the Baltic state's "long-standing support for prudent fiscal policies and economic reforms."