1. The EU commission Wednesday published its vision for a “genuine“ economic and monetary union under which national budgets could be vetoed and a central European budget would allow transfers for troubled countries. The process would require two rounds of treaty change – one within the next five years and another more profound exercise in the longer-term. The 52-page blueprints emphasises the need for the eurozone to be able to “integrate quicker and deeper“ than the rest of the EU, with the eurozone now largely seen as paying for being established as a political project without the fundamental economic and financial structures to back it up. (EUOBSERVER.COM)
  2. US President Barack Obama Tuesday signed into law a bill barring US airlines from participating in the European Union‘s emissions-trading scheme (ETS). The law is the latest salvo in an ongoing dispute between the EU and the US, China, Russia and India.The move by Obama comes despite a conciliatory gesture made by the EU two weeks ago. Connie Hedegaard, the European commissioner for climate action, proposed that the EU freeze application of the ETS rules for flights outside European airspace for one year. (EUROPEANVOICE.COM)

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