German Council of Economic Experts economists expressed scepticism about any moves towards a eurozone Treasury

FT 28 July 2015

“Making the euro area collectively responsible for potential costs without member states giving up any national sovereignty over fiscal and economic policies would, sooner or later, make the currency union more unstable,” they wrote.

The experts’ report follows a claim in Der Spiegel that the German finance ministry was open to the idea of transferring German tax revenues to a eurozone budget.

German government officials said these discussions were at an early stage and would require treaty changes.

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Marcel Fratzscher, president of DIW Berlin in FT:
The creation of a proper fiscal union is the most urgent reform

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