Eurozone members that break the region's rules on public finances should be excluded temporarily from Europe’s political decision-making, the president of the European Central Bank has proposed.
The controversial suggestion by Jean-Claude Trichet, in an interview with the Financial Times, would be part of a “quantum leap” in the governance of Europe’s 11-year old monetary union, needed to prevent a future Greece-style economic crisis.
Mr Trichet’s comments highlight how he is trying to shape the debate on eurozone reform, which is expected to culminate in coming weeks when Herman Van Rompuy, the European Union’s president, reports on how to revamp the rules.
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