EU executive says much still to be done on deeper euro zone integration

© Reuters. EU Commission Vice-President Dombrovskis holds a news conference in Brussels© Reuters. Commission Vice-President Dombrovskis holds a news conference in Brussels

BRUSSELS (Reuters) – European governments must speed up work on deeper euro zone integration as much remains to be done, especially on the European deposit guarantee scheme where there has been almost no progress, the European Commission said on Wednesday.

“Willingness to act has waned as the economy has improved,” European Commission Vice President Valdis Dombrovskis told a news conference. “There is a saying that the has been built through crisis. But it does not have to be so,” he said.

“This is why I invite finance Ministers and the EU Leaders to use this opportunity to make our monetary union even stronger,” he said, referring to a meeting of EU finance ministers on Thursday in Luxembourg and of EU leaders on 20-21.

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