TOP European policymakers stepped up calls last night for the Eurozone to be given greater political clout at future G20 meetings.
After a meeting of the Eurogroup, which comprises Eurozone finance ministers, the group’s leader Jean-Claude Juncker said the G7 is being overshadowed by the G20, where the eurogroup is not represented.
“The Eurogroup has to become a member of the G20, because the currency isn’t at the moment represented by its political president, if I may say so, but only by its monetary policy arm, which is Mr Trichet,” he said.
Juncker added: “The [European] Commission is going to recommend that the Eurozone is represented. The key thing, I think, is the best possible coordination of economic policy.”
He added: “We need to continue inventing a procedure whereby we have the same kind of surveillance as in the fiscal area.”