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It also called for a "robust and complete monetary union" in the euro zone.
Van Rompuy's first draft communique for the summit, envisaging a three-stage process towards a more complete monetary union, has had to be comprehensively rewritten while his proposals were belittled as a "useful input" rather than as the "basis" for the debate.
"While the risks from Greece have fallen for now, the severity of the systemic crisis engulfing the eurozone is unlikely to diminish until European leaders articulate a credible road-map that would complete monetary union with much greater fiscal and financial integration," the credit rating company said.
Further, the table shows that when everyone in group A cooperated and everyone in group B defected, group A received the complete monetary bonus of €43.20 €7.20.20 per group member), whereas group B received nothing.
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Completing monetary union means four things – a banking union, a fiscal union, an economic union, a democratically legitimised political union.
"We need to complete our monetary union with an economic union," Mr. Barroso argued.
"We need to complete the monetary union with a real economic union," whether the peoples of Europe want it or not.
believes that a determined and forceful move toward complete European Monetary Union should be reaffirmed in order to restore faith in the system, because as we see it at the moment, the viability of the European monetary system is questioned," she said.
The bankers' madness must end now -- we must complete the monetary part of our declaration.
"We intend to look at the further steps we need to take towards a full economic union to complete our monetary union," he said Wednesday.
Some think that it may now have completed the monetary tightening that started last August, when the base rate went up from 4.5% to 4.75%.
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